A Production Function Describes the

question 45

Multiple Choice

A production function describes the

• A) technological possibilities for converting factor inputs into outputs.
• B) intellectual possibilities for converting factor inputs into outputs.
• C) amount of resources available to the representative firm.
• D) actual process of converting factor inputs into outputs.
• E) amount of labour available to produce outputs.

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Definitions:

Perceived Behavioral Control

An individual’s beliefs about whether he or she can actually perform the behavior in question.

Attitude-Behavior Consistency

The extent to which an individual's attitudes are reflected in their actual behaviors.

Abstract Concept

An idea that does not have a physical form or is not concretely observable.

Predictive Value

The extent to which a score or measurement can accurately forecast or predict a specific outcome.