Japans real every capita output grew

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Reference no: EM1312175

Q. 1. At the end of 1973 Japan had a every capita real output of $14,379. If, on average, Japan's real every capita output grew at a rate of 3 percent every year among 1973 also 1993. Illustrate what would Japan's output every capita have been at the end of 1993?

2. Consider the production function Y=(√K)(L)

a. Calculate output when K=64 also L=100.

b. If both capital also labor double, Illustrate what happens to output?

c. Is this production function characterized by constant returns to scale? Elucidate.

Reference no: EM1312175

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