Factors of Production That Contribute to Growth in Per Capita

question 19

Multiple Choice

Factors of production that contribute to growth in per capita GDP include:

• A) proximal and ultimate factors of production.
• B) physical capital,skilled labor,and technological know-how.
• C) organization of resources.
• D) institutions.

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Definitions:

Accrual Basis

An accounting method that records revenues and expenses when they are incurred, regardless of when cash is exchanged.

Accounting

The practice of recording, classifying, and reporting on financial transactions to track an entity's financial status and performance.

Voiding

The process of cancelling a check or transaction in financial record keeping.

Deleting

The act of removing data or records from a database or document, often irreversible.