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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 passed! I did not get a chance to tell you before the exam - but your site was excellent. I will definitely take it next year for Level II.
Tamara Schultz
Learning Outcome Statements
explain how natural resources affect economic growth and evaluate the argument that limited availability of natural resources constrains economic growth;
explain how demographics, immigration, and labor force participation affect the rate and sustainability of economic growth;
explain how investment in physical capital, human capital, and technological development affects economic growth;
CFA® 2026 Level II Curriculum, Volume 1, Module 9.