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Thread: economic help needed, (production function)

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    Default economic help needed, (production function)

    A production function Y = F(A,K,L) shows how much output can be produced with a given amount of capital and labor. The production function can shift to affect overall national productivity. Example: changes in energy supplies or cost as is our present case.

    Discussion: based on our present economic situation-"recession"- how will it negatively affect K? what impact would it have on our national production?
    Last edited by inairperez; 01-17-2013 at 06:22 PM.

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    Guessing Y = GDP? What is F(A,K,L)?

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    Quote Originally Posted by [Re]cUrSivE View Post
    Guessing Y = GDP? What is F(A,K,L)?
    F-"is a function of"

    Y-Real GDP

    A-Productivity

    K- Capital Stock

    L- Labor

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    You need to explain how the production part of GDP is affected during a recession.

    http://useconomy.about.com/od/grossd.../Recession.htm

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