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https://quizlet.com/160101447/chapter-6-econ-flash-cards/#:~:text=%EE%80%80The%20aggregate%20production%20function%20relating%20real%20GDP%20to,that%20as%20employment%20increases%2C%20the%20productivity%20of%20%EE%80%80labor%EE%80%81
https://saylordotorg.github.io/text_macroeconomics-theory-through-applications/s09-01-the-production-of-real-gdp.html
The aggregate production function combines an economy’s physical capital stock, labor hours, human capital, knowledge, natural resources, and social infrastructure to produce output (real GDP). The idea of the production function is simple: if …
https://2012books.lardbucket.org/books/theory-and-applications-of-macroeconomics/s09-02-labor-in-the-aggregate-product.html
The quantity of labor in the aggregate production function is determined in the labor market. All else being the same, labor will migrate to the place with the highest real wage. Differences in real wages across economies reflect differences in the marginal product of labor due to differences in the number of hours worked, technology, and capital stocks.
https://quizlet.com/199360427/chapter-6-part-2-flash-cards/
https://saylordotorg.github.io/text_macroeconomics-theory-through-applications/s20-15-the-aggregate-production-funct.html
The aggregate production function describes how total real gross domestic product (real GDP) in an economy depends on available inputs. Aggregate output (real GDP) depends on the following: Physical capital—machines, production facilities, and so forth that are used in production. Labor—the number of hours that are worked in the entire economy.
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