The Neoclassical growth theory is based on the existence of an aggregate production function-showing the relationship between labour \((L)\), capital \((K)\), technology \((T)\), and real GDP \((Y)\). The table below shows various values for \(L, K\), and \(T\). In all cases, the aggregate production function is assumed to take the following form:

a. Compute real GDP for each case and complete the table.

b. In the first part of the table, capital is constant but labour is increasing. What property of the production function is displayed? Explain.

c. In the second part of the table, capital and labour are increasing by the same proportion. What property of the production function is displayed? Explain.

d. What type of growth is being shown in the third part of the table?

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Y = TX VKL Labour Capital Technology Real GDP (L) (K) (T) (Y) 10 15 20 222 20 1 20 1 20 1 25 20 1 10 20 1 15 30 1 20 40 1 25 50 1 20 20 1 20 20 3 20 20 2220 4 S