The declining labour share, which is expected to continue in the future, implies that Australia will experience faster economic growth (growth in GDP per capita) in the future. Assuming that the production function in Australia is the Cobb-Douglas production function, do you agree or disagree with this statement? Explain your reasoning.

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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The declining labour share, which is expected to continue in the future, implies that Australia will experience faster economic growth (growth in GDP per capita) in the future.

Assuming that the production function in Australia is the Cobb-Douglas production function, do you agree or disagree with this statement? Explain your reasoning.

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