Question: When total factor productivity increases, this implies that Select one: a.The economy can produce the same amount of output with a greater quantity of physical

When total factor productivity increases, this implies that

Select one:

a.The economy can produce the same amount of output with a greater quantity of physical capital, human capital and labour

b.Each factor's productivity increases by the same amount.

c.The economy can produce the greater amount of output with a greater quantity of physical capital, human capital and labour

d.The economy can produce the same amount of output with a smaller quantity of physical capital, human capital and labour

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Q:

Which series has the highest beta. BraveNewCoin Liquid Index for Bitcoin 1D BNC Trading Brave Ne Yellow Green Blue Orange

Q:

Please answer all multiple choice questions Which of the following is the BEST way to define "Say's Law?" (a) supply creates its own demand; (b) continue to add capital until the marginal product of...

Q:

Questions are given below.... answer the in details Consider the following standard Homer Model and a variation that includes human capital. Goods Production Flmction Ideas Production Function Human...

Q:

3.China is much more different from the US today than France ever was. Not only is its initial capital stock ( K 0) much lower, but there are many other important differences as will be discussed...

Q:

Assignment for \"The Solow Model Unleashed: Understanding Economic Growth\" Based on Columbia CaseWorks 130304 1 Assignment Introduction & Algebra This case and assignment is intended to enhance your...

Q:

Assignment for \"The Solow Model Unleashed: Understanding Economic Growth\" Based on Columbia CaseWorks 130304 1 Assignment Introduction & Algebra This case and assignment is intended to enhance your...

Q:

China is much more different from the US today than France ever was. Not only is its initial capital stock ( K 0) much lower, but there are many other important differences as will be discussed...

Q:

China is much more different from the US today than France ever was. Not only is its initial capital stock ( K 0) much lower, but there are many other important differences as will be discussed...

Q:

China is much more different from the US today than France ever was. Not only is its initial capital stock ( K 0) much lower, but there are many other important differences as will be discussed...

Q:

Following the war, Grandpa Frank was very bullish on the potential of the French market. He saw a country that would not only experience short-term growth through its rebuilding effort, but also...

Q:

The text of the case are in this file:France Case Writeup.pdf. The assignment is in this file:France Case Assignment.pdf The spreadsheet that you'll use in your assignment is available here:France...

Q:

Owner's equity at the start of the period is $35,000; net income for the period is $30,000; the total investments by the owner are $15,000; and total withdrawals by the owner are $5,000. The owner's...

Q:

Manufacturing equipment has a capital cost of $43,000, salvage value of $3000, and an asset life of 10 years. Compute the depreciation expense for the first 3 years under (a) Accelerated cost...

Q:

Solve the non - homogeneius equation with the given initial condition. y ' ' + 4 y ' + 1 3 y = e x , y ( 0 ) = 1 , y ' ( 0 ) = - 5

Q:

For mallard ducks and Canada geese, what percentage of nests are successful (at least one offspring survives)? Studies in Montana, Illinois, Wyoming, Utah, and California gave the following...

Q:

Consider the data shown in the following plot. Each group has 12 cases. Do the means appear statistically significant? Estimate the p-value: Is it about 0.5, about 0.05, or less than 0.0001? 150...

Q:

What was the age distribution of prehistoric Native Americans? Extensive anthropological studies in the southwestern United States gave the following information about a prehistoric extended family...

Q:

Consider the following information about an end product item: Ordering cost = $90/order Annual demand = 936 Inventory carrying cost = $2/unit/week. (Notice the unit change) a. How many orders should...

Q:

The Best Wheels Bicycle Company produces bicycles in different styles for boys and girls, in heights of 26 inches or 20 inches, and with 10 speeds, 3 speeds, or 1 speed. a. How many different kinds...

Q:

Choose the correct answer 1. In the marketing mix what is meant by the term 'place'? A. The process of getting products to the places where customers can buy them. B. Recognizing that consumers...

Q:

How has a company like Facebook influenced communication in the 21st century (Chapter 5)?

Q:

Many employees, including managers, complain about organizational communications. What are some of the complaints, and how can communications be improved?

Q:

E-mail is preferred over oral communication at work, and texting is increasingly used. What are the pros and cons of oral versus e-mail or text communication? Which form of communication do you use...