In the Relationship Expressed in Functional Form Y = G(K

question 57

Multiple Choice

In the relationship expressed in functional form Y = G(K, L) , Y stands for real GDP, K stands for the amount of capital in the economy, and L stands for the amount of labour in the economy. In this case G( ) :

• A)is the growth rate of real GDP when the amount of capital and labour in the economy is fixed.
• B)indicates that the variables inside the parentheses are endogenous variables in the model.
• C)is the symbol that stands for government input into the production process.
• D)is the function telling how the variables in the parentheses determine real GDP.

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