How would the shape of the 0°C–18°C curve in Figure 15.20 differ if density rather than volume were plotted against temperature? Make a rough sketch.
Growth Theory—10.7.2016 Solow I: Relationship between inputs and outputs in the economy Y = F(physical capital, human capital, and natural resources) First version of the model focused solely on physical capital. Why Because: o Capital resources in wealthy nations far exceed those in developing nations o Periods of investment are correlated with periods of economic expansion Marginal product – the change in output divided by the change in input. This means that the more given input, the higher the GDP. Diminishing marginal product – the marginal product of an input falls as the quantity of the input rises. Y (real GDP) Y3 Y2 Y1