A production function Y = F(A,K,L) shows how much output can be produced with a given amount of capital and labor. The production function can shift to affect overall national productivity. Example: changes in energy supplies or cost as is our present case.
Discussion: based on our present economic situation – “recession” – how will it negatively affect K? what impact would it have on our national production?
by the way Y=F(A,K,L) stands for:
F-"is a function of"
Y-Real GDP
A-Productivity
K- Capital Stock
L- Labor
what level of econs is this? this is not the classic production function. nor is this some newer endogenous growth function
this looks like some half-baked question where the author thinks the students have not reached high levels of study.
anyway no. i can answer some of the standard answers, but i am not helping because you shld figure it out. not that hard