0
In most economic theory, the basic production function (or GDP) is represented by a Cobb-Douglas function (Y = KaALB).
Where:
Y = GDP
K = the capital stock
L = labour supply
A = level of technology
a and B = proportion of capital and labour usage in production
Following this basic formula, anything that does not affect the level of capital production, labour supply, or technology would not affect production.
What else can I help you with?
The gross domestic product would increase significantly if what would occurred?
Consumption doubled.Consumptions doubled.
The gross domestic product would increase significantly if occurred?
Consumption doubled.Consumptions doubled.
If the gross domestic product would increase significantly if what occurred?
Consumption doubled.Consumptions doubled.
What actions would most likely lead to an increase in a country's gross domestic product?
investing in machinery and technology
What is the best measure of Ghana's economic activities on Gross domestic product or Gross national product Explain?
Gross domestic product measure the total output produced from within the countries boarders. Gross national product measures the output generated by a countries enterprises. The best way to measure Ghana's economic activities would be to use gross domestic product.
Which would cause the gross domestic product to go up?
Greater levels of investment
When The gross domestic product would increase significantly?
Gross domestic product (GDP) would increase significantly during periods of robust economic growth, typically driven by factors such as increased consumer spending, higher business investments, and government expenditure. Additionally, technological advancements and improvements in productivity can lead to greater output, further boosting GDP. External factors like a surge in exports or recovery from economic downturns can also contribute to significant increases in GDP.
What would help figure out whether the economy is growing quickly or slowly?
Type your answer here... Gross domestic product
What is economic growth and why is it necessary?
Economic growth is a term to show the GDI increase. However, not everyone would consider it necessary.GDI = Gross domestic increase
What would lead to a rise in GDP?
GDP or Gross Domestic Product can increase by more individuals working or working more hours. Another option is to lower interest rates, which allows companies to take advantage of lower financing and increase business activity.
Why used goods are not taken in gross domestic product GDP calculation?
That would be counting them twice, they were already counted when new.
What economic indicator would be most useful in figuring out whether the economy is growing quickly or slowly?
Gross domestic product
