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RELATION AGGREGATE PRODUCTION FUNCTION Y/N = F(K/N,1) (Capital…
RELATION
AGGREGATE PRODUCTION FUNCTION Y/N = F(K/N,1)
Capital menentukan Output
Decreasing Return to Scale
capital↑ (very high), output↑(pada kadar berkurangan)
Saiz populasi tetap
kadar penyertaan buruh tetap
kadar pengangguran tetap
fokuskan pada peranan capital accumulation
hanya capital berubah
Constant Return to Scale
Y/N = F(K/N,1)
capital↑, output↑(pada kadar yang sama)
tidak ada kemajuan teknologi
Labor (N) tetap
fokuskan pada capital dan output sahaja
Output menentukan capital
(melalui peranan pelaburan)
relstion between output & investment
Ekonomi tertutup
Private saving
I = S+(T-G)
Fokus pada private saving
public saving
T-G=0
So,
I = S
private saving adalah nisbah dari prndapatan
S = sY
times index
I = S
It = sYt
relation between investment & capital accumulation
assume
assume
assume