The Three Determinants of the Supply of Real GDP Are

question 108

Multiple Choice

The three determinants of the supply of real GDP are

• A)labor, capital, and potential GDP.
• B)labor, capital, and households.
• C)labor, capital, and technology.
• D)labor, capital, and markets.
• E)labor, capital, and government.

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Definitions:

Annual Requirement

The total quantity or amount of a particular resource or input that is needed by an organization or project over the course of a year.

Ordering Costs

Expenses incurred in placing and processing orders for goods or services, including costs associated with ordering, receiving, and inspecting items.

Service Level

A measure of the quality of service provided by a vendor or organization, often outlined in service-level agreements specifying performance and availability standards.

ABC Analysis

A method of classifying inventory items into three categories (A, B, and C) based on their value to the company, with A being the most valuable and C being the least.