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have been informed that the production function in Mirkwood exhibits constant returns to scale and is en by: Y = 2K L . Capital's share of GDP is 60%. Mirkwood's capital stock is equal to 243 units and the pour supply is 32 units. Due to the discovery of a rare earth element, total factor productivity will triple next ear. Which of the following statements is/are correct? If the price level is 4 the nominal wage rate is currently equal to 10.8. GDP will be equal to 432 next year. Select one Oa Both statements I and II are correct. Statement I is correct. Both statements I and II are incorrect. Statement ll is correct