Part II. Short Answer Questions Question 1 . For a country, its national output or income (Y)
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Part II. Short Answer Questions
Question 1.
For a country, its national output or income (Y) follows a Cobb-Douglas function as below. For example, the function in 2021 is
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/6676084e0895d_4056676084de4e72.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/6676084e53184_4066676084e4283d.jpg)
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