Question: Hi, please list out the formulas where necessary , graphs where necessary , if the question doesnt require it, its fine not have it but

Hi, please list out the formulas where necessary , graphs where necessary , if the question doesnt require it, its fine not have it but please do put it down if it helps you to explain .explain it and list out the formulas used with explanations of formulas,themeaning of the symbols. Please dont provide a poor answerThank you!

Using a Cobb-Douglas production function with capital's share at 1/3, calculate the effect of the following shocks to the labour market.

  1. (a)An intensive training programme makes workers 5%more efficient(so it is as if we had 5% more workers). How will this affect aggregate GDP in the short and the long run? What about output per capita?
  2. (b)Sudden immigration increases the labour force by 5%. How will this affect the aggregate capital stock and aggregate production in the short and the long run? What about output per capita?

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