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Business, 29.07.2020 21:01 springcoates

In the relationship expressed in functional form, Y = F(K, L), Y stands for real GDP, K stands for the amount of capital in the economy, and L stands for the amount of labor in the economy. In this case the function G( ): a. is the symbol that real GDP 'Y' affects variables capital K and Labor L
b. indicates a function that the variables inside the parentheses are endogenous variables in the model that affect Y.
c. indicates a function that the variables inside the parentheses are exogenous variables in the model that affect Y.
d. is the growth rate of real GDP .

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