The Solow Growth Model The Solow growth model is the seminal model of growth theory. The model begins by specifying a macro production function as follows: Y = F(K(t), A(t)L(t)), where K = capital, L = labor, A = total factor productivity (i.e. all the intangibles like technology and skill levels that influence output), t = time. Note that A multiplies L, so the two arguments in the production function are K and AL). The production function is often reduced to its "intensive form," y(t) = f(k(t)), where Y(t) K(t) y(t) = and k(t) = = A(t) L(t)' A(t) L(t) ay Show that the marginal product of capital, is equal to f'(k). 9