In the Cobb-Douglas Production Function,the Index of the Overall Level

question 28

Multiple Choice

In the Cobb-Douglas production function,the index of the overall level of efficiency of transforming capital and labour into real GDP is called

• A) total factor productivity.
• B) allocative efficiency.
• C) the marginal efficiency index.
• D) the transformation allocation of inputs.

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Definitions:

Vision

The ability to interpret the surrounding environment by processing information contained in visible light reaching the eyes.

Fovea

A small area at the center of the retina that provides the clearest and sharpest vision because it has the largest concentration of cones.

Visual Accommodation

The ability of the eye to change its focus from distant to near objects (and vice versa) by changing the lens shape.

Fixation

Arrested development at a psychosexual stage occurring because of excessive gratification or frustration at that stage.