The Equation $Y = K ^ { a } L ^ { 1 - a }$

question 46

Multiple Choice

The equation $Y = K ^ { a } L ^ { 1 - a }$ is called:

• A) the Lucas production function
• B) the Keynesian production function
• C) the Friedman-Schwartz production function
• D) the Cobb-Douglas production function
• E) the Glass-Steagall production function

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Definitions:

Natural Laws

Fundamental physical laws that govern the behavior and structure of the natural universe.

Catastrophic Events

Large-scale disasters or significant events with the potential to cause sudden and severe damage to life, property, and the environment.

Natural Theology

The study or theory of knowledge about God and the nature of religious beliefs, based on the observation of the natural world.

Mechanical Function

The role or operation of a structure or system based on the principles of mechanics, often referring to how physical forces influence biological processes or man-made devices.