In the Cobb-Douglas Production Function

question 84

Multiple Choice

In the Cobb-Douglas production function
,if a = 1/3,then:

• A)labor's share of GDP is two-thirds.
• B)labor's share of GDP is one-third.
• C)capital's share of GDP is one-third.
• D)capital's share of income is one.
• E)Both a and c are correct.

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Definitions:

Anti-labor

Policies or sentiments that oppose labor rights and interests, often favoring employers over workers in labor disputes.

Pro-employer

Policies or attitudes that favor the interests of employers over employees.

Collective Bargaining

The process of negotiation between employers and a group of employees aimed at agreements to regulate working salaries, working conditions, and other aspects of workers' compensation and rights.

Exportable

Pertains to goods or services that can be sold abroad effectively, benefiting from international markets.