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Source: Victor J. Elias, Sources of Growth: AStudy of Seven Latin American Economies, International Center for Economic Growth, ICS Press, San Francisco, 1992, Tables E-5, E-12, E-14. Notes: GDP is in millions of 1960 pesos. Labor is in thousands of people. Capital is in millions of 1960 pesos.

Source: Victor J. Elias, Sources of Growth: AStudy of Seven Latin American Economies, International Center for Economic Growth, ICS Press, San Francisco, 1992, Tables E-5, E-12, E-14. Notes: GDP is in millions of 1960 pesos. Labor is in thousands of people. Capital is in millions of 1960 pesos.

14.9. Table 14.3 gives you data on real GDP, labor, and real fixed capital for Mexico for the period 1955-1974. See if the additive Cobb-Douglas production function given in Eq. (14.1.4) fits these data. Compare your results with those obtained from fitting the multiplicative Cobb-Douglas production function given in (14.1.2). Which is a better fit?

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Rules Of The Rich And Wealthy

Rules Of The Rich And Wealthy

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