Muro, Kazunobu - In: Economic Modelling 31 (2013) C, pp. 18-21
The GDP function chooses the most efficient point on the production possibility frontier with curved surface. We derive … a three-sector Cobb–Douglas GDP function including three goods (agriculture, manufacturing, and services) and three … goods decreases the real interest rate while it increases the wage rate and the land rent. The three-sector Cobb–Douglas GDP …