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Consider an economy characterized by the following Cobb-Douglas production function:
Y=4K1/4L3/4
Where K and L represent physical capitaland labor, respectively. Assume that these inputs are given and fixed where, K= 6000 and L=1600
a) Derive an expression for the marginal product of physical capital (MPK)
b) Derive an expression for the marginal product of labor (MPL)
c) Find the total output in this economy
d) Find the amount of output contributed by labor
e) Find the amount of output contributed by capital
Suppose the demand for loanable funds was stable but the supply fluctuated from year to year. what cause fluctuate in supply?
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If you take nations total income and subtract out private consumption government consumption what you will find?
it has been argued that economic development of developing countries has been held back by a persistent fall in the terms of trade of developing countries over the long run
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