Two of the Most Important Factors That Influence Total Factor

question 50

Multiple Choice

Two of the most important factors that influence total factor productivity are

• A) the stock of knowledge that the world possesses and the associated level of technology.
• B) the quantity and quality of labour available in an economy.
• C) capital accumulation and the total level of investment in an economy.
• D) population growth rates and the geographic location of the population.

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Definitions:

Salvage Value

The approximated value of an asset at the close of its functional life.

Useful Life

The estimated duration of time that an asset is expected to be operational and economically viable.

Units-Of-Activity

A depreciation method where the expense is based on the actual usage or activity of the asset rather than the passage of time.

Production Based

A method or approach that focuses on enhancing the efficiency and output of the manufacturing process, often measured against set production targets.