8. Suppose an economy has total income of $8 tril- lion, where total labor income equals $6 trillion and capital income equals $2 trillion. Which are the values of the exponents on labor and capital using a Cobb-Douglas production function? 9. Suppose that you work at the statistical office of a given country. The graph plots estimates of the labor and capital income shares for that country over time. Time Labor income share Capital income share 0.65 0.35 Share of total income Your boss suggests that a Cobb-Douglas pro- duction function could be a good representation of that country's income. Is your boss right