Suppose you are given the aggregate production function for an economy and the amount of available technology increases for this economy.  If labor and capital constant are held constant, increase in technology will causes labor productivity to decrease.

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A: Given as Rate of depriciation = 10% = 0.1 Depreciation function (D) = dk now, let Investment (I) =…

Q: Consider the production function Y = z * K^1/3 * N^1/3 * L^1/3  where Y is output, z is a parameter…

A: For question 17, the statement is False. In the given production function Y=z⋅K1/3⋅N1/3⋅L1/3, if the…

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Q: Question 1 Consider the following economy with production function: Y = AK"LL-a where Y is total…

A: *Hi there , as per our guidelines we are only allowed to solve 1 question with maximum 3 sub parts…

Q: 0.30 0.75, Production Function: Y = KLE, where E > 1 Savings rate: s = 12% Depreciation rate:8 = 7%…

A: the Solow Growth Model is a framework for understanding economic growth by analyzing the…

Q: For a given level of technology, the level of labor productivity would increase in all of the…

A: Labor productivity means the efficiency or productivity by which labor works or produces the output.…

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A: GDP is the value of final goods and services produced in the economy in the given time.

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Q: ased on a aggregate production function model where capital and labor are the only factors of…

A: Production function shows the functional relationship between output and inputs.

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A: Production function refers to the function that states the relationship between the inputs used for…

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