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Basic Question 1 of 11
Let α = 1/3 in the Cobb-Douglas production function. If both L and K increase by 10%, the output will increase by:
B. 20%.
C. Cannot be calculated.
A. 10%.
B. 20%.
C. Cannot be calculated.
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I am happy to say that I passed! Your study notes certainly helped prepare me for what was the most difficult exam I had ever taken.
Andrea Schildbach
Learning Outcome Statements
contrast capital deepening investment and technological progress and explain how each affects economic growth and labor productivity;
demonstrate forecasting potential GDP based on growth accounting relations;
CFA® 2024 Level II Curriculum, Volume 1, Module 9.