深圳大学宏观经济学第三章练习答案.docVIP

CHAPTER 3 GROWTH AND ACCUMULATION Solutions to the Problems in the Textbook Conceptual Problems: 1. The production function provides a quantitative link between inputs and output. For example, the Cobb-Douglas production function mentioned in the text is of the form: Y = F(N,K) = AN1-(K(, where Y represents the level of output. (1 - () and ( are weights equal to the shares of labor (N) and capital (K) in production, while A is often used as a measure for the level of technology. It can be easily shown that labor and capital each contribute to economic growth by an am