Suppose That in 2002 Freedonia Had GDP Equal to 2000

question 75

Multiple Choice

Suppose that in 2002 Freedonia had GDP equal to 2000 million,the capital stock was equal to 1700 million,the number of employees equaled 70 million.The production function is Y = AK⁰.²⁵ᴺ⁰.⁷⁵.Total factor productivity of the economy in that year was approximately equal to

• A)0.09.
• B)2.61.
• C)4.19.
• D)12.87.

---

Definitions:

Appropriate Authority

An individual or body that holds the necessary power or permission within a specific context to make decisions, enforce rules, or grant approvals.

Sexual Harassment

Unwelcome sexual advances, requests for sexual favors, and other verbal or physical harassment of a sexual nature, often occurring in the workplace or academic settings.

Raise

An increase, typically referring to salary, wages, or funds.

Corporate Philanthropy

The effort or inclination of companies to promote the welfare of others, typically through charitable donations of funds or time.