Given a Production Function Y = AF(L, K, H, N)

question 17

Multiple Choice

Given a production function Y = AF(L, K, H, N) , where Y is the quantity of output, L is the quantity of labour, H is the quantity of human capital and N is the quantity of natural resources, what does A represent?

• A)Productivity growth
• B)The physical capital per worker
• C)The level of available production technology
• D)Technological growth

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Definitions:

Quota

A limited or fixed number or amount of something, especially one officially allocated.

Specified Time Range

A defined period during which certain actions are taken or certain conditions apply, often set for achieving goals or completing projects.

Extrinsic Reward

A reward given to an individual that comes from an external source, typically in the form of tangible rewards or public recognition, to motivate behavior.

Praise

The expression of approval, admiration, or commendation directed towards someone for their achievements or qualities.