Suppose That an Economy Grows by 6 Percent, Total Factor

question 73

Multiple Choice

Suppose that an economy grows by 6 percent, total factor productivity grows by 4 percent, and the capital stock increases by 2 percent.If labor and capital are the only inputs used in production and capital contributes 25 percent to GDP, then the labor force has risen by _____.

• A)1.5 %
• B)2%
• C)4%
• D)6%
• E)8%

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Definitions:

Body Language

The nonverbal signals that we use to communicate our feelings and intentions to others, including gestures, postures, and facial expressions.

Suspend Judgment

The practice of withholding judgment or conclusion until all evidence has been considered or more information is obtained.

Game Playing

Engaging in activities for entertainment or competition, which could also imply strategic behavior in non-entertainment contexts like business or politics.

Deception

The act of misleading or deceiving others as a means to achieve one's personal goals or desires, often involving manipulation.