In the Cobb-Douglas Production Function

question 51

Multiple Choice

In the Cobb-Douglas production function
,labor's share of GDP is _________.

• A)two-thirds regardless of how much labor there is
• B)two-thirds but can change as more laborers are added
• C)one-third regardless of how much labor there is
• D)always equal to one
• E)Not enough information is given.

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Definitions:

Proximal Stimulus

The physical energy from a stimulus that directly interacts with sensory receptors, such as the light patterns seen by the eyes.

Phi Phenomenon

A visual illusion in which stationary objects shown in rapid succession appear to be in motion.

Pragnanz

A principle of Gestalt psychology suggesting that individuals will perceive and interpret complex images in the simplest form possible.

Figure-Ground Reversal

A visual perception phenomenon where the viewer can shift perspective to see either the foreground or the background as the dominant aspect.