In the Cobb-Douglas Production Function , If a =

question 75

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 two-thirds.
• D) capital's share of income is one.
• E) labor's share of income is three.

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Definitions:

Wilsonian Principles

Ideals associated with President Woodrow Wilson, emphasizing democracy, self-determination, and internationalism, particularly in his "Fourteen Points" speech proposing a framework for post-World War I peace.

Paris Peace Conference

An international meeting held in 1919 after World War I to negotiate peace treaties between the victorious Allies and the defeated Central Powers.

Fourteen Points

A statement of principles for world peace that was used for peace negotiations to end World War I, proposed by President Woodrow Wilson in 1918.

War Industries Board

A U.S. government agency established during World War I to coordinate the production of war materials and the distribution of industrial products.