If the production function is given by
, then labor's share of GDP is one-third.

Name: If the production function is given by , then labor's share of GDP is one-third.
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Question

If the production function is given by  
, then labor's share of GDP is one-third.

Quizplus · Accepted Answer

The production function does not provide information about labor's share of GDP. Labor's share of GDP is determined by the distribution of income between labor and capital, which is influenced by factors such as technology, globalization, and government policies.

If the Production Function Is Given by