Question: Based on a country's aggregate production function, Population or workforce is the most important component of the aggregate production function. An increase in human capital
Based on a country's aggregate production function,
Population or workforce is the most important component of the aggregate production function.
An increase in human capital and physical capital would also increase the aggregate production function.
All components of the aggregate production function have to increase for the aggregate production function to increase.
Only improvements in technology increase the aggregate production function.
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