From Cambridge to Eternity: “Factor-hours to Production”
A Few Mathematical Terms Variable: a quantity of interest, rather varying across space than changing over time Constant: a quantity not imagined to be affected by variables Functional equation: the effect variable on the left, the cause variables on the right After all, the left owes its existence to the right. The Production Function in Macroeconomics: Y= f((L, K, N) In the first place “exogenous” to mathematics, there is dimension ...