In the Aggregate Production Function,Y Represents Real GDP,K Represents the Capital

question 1

Multiple Choice

In the aggregate production function,Y represents real GDP,K represents the capital stock,L represents the quantity of labour,and A represents an index of efficiency.Which of the following equations represents the aggregate production function?

• A) Y = (K × L) / A
• B) Y × A = (K × L)
• C) Y = AF(K, L)
• D) Y = (K × L) = A /FY

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