Consider the following three countries that produce gdp, Ask an Expert

Economics

Consider the following three countries that produce GDP this way:

Y = 5√K

llia : K = 100 machines

Caplamia : K = 10,000 machines

Hansonia : K = 1,000,000 machines

What will GDP (Y) be in these three countries? Hansonia has 10,000 times more machines than Ilia, so why isn't it 10,000 times more productive?

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M92661152

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