Which of the Following Is Likely to Have the Smallest

question 208

Multiple Choice

Which of the following is likely to have the smallest impact on a country's growth in real GDP per capita?

• A) a 10% growth in technology
• B) a 10% growth in population
• C) a 10% growth in labor force
• D) Equal rates of growth in technology, population, and labor force all will have an equal impact on economic growth.

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Definitions:

Factor X

Factor X is a placeholder term used to denote an unknown or unspecified factor in an equation or scenario.

Production Function

A mathematical relationship expressing the maximum output that can be produced from a given set of inputs, showing the technological relationship between inputs and outputs.

Returns To Scale

The rate at which output increases as inputs are increased proportionally in the production process.

Input

Resources, materials, or data entered into a system for processing or production.