One Measure of Student Output Is Number of Completed Math

question 28

Multiple Choice

One measure of student output is number of completed math problems produced.Using pen and paper only,a student can complete 50 math problems in 2 hours.Using pen,paper,and a calculator,the same student can complete 100 math problems in 2 hours.(The student is already familiar with,and knows how to use,the calculator. ) This scenario illustrates the use of which factor of production?

• A) physical capital
• B) human capital
• C) technological knowledge
• D) both human capital and technological knowledge

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Definitions:

External Financing

Funds a business obtains from outside the company, including loans, equity investments, and other financial instruments.

After-Tax Cost

The net cost of an expense or investment after the effects of taxes have been accounted for.

Net Present Value

This refers to the calculation used to determine the current value of a series of future cash flows by applying a discount rate.

Initial Cash Outlay

The upfront amount of cash needed to initiate a project or investment, including acquisition costs and other initial expenses.