GDP Can Be Represented by the Equation: GDP = F

question 57

Multiple Choice

GDP can be represented by the equation: GDP = F x (Fe/F) x (GDP/Fe) , where F represents the total factor supply and Fe represents the number of employed factors. The term (GDP/Fe) represents

• A)factor utilization.
• B)average factor productivity.
• C)income per person.
• D)output per capital.
• E)factor supply per level of output.

---

Definitions:

Fluid Intelligence

The ability to think abstractly, reason, identify patterns, and solve problems with new information.

Crystallized Intelligence

Cognitive skills and specific knowledge acquired over a lifetime; it is heavily dependent on education and tends to remain stable over time.

Deductive Reasoning

A logical process in which a conclusion is based on the concordance of multiple premises that are generally assumed to be true.

Cognitive Skills

Mental abilities involved in processing information, understanding concepts, and solving problems.