If Total Factor Productivity Increases by 2 Percent and Total

question 97

Multiple Choice

If total factor productivity increases by 2 percent and total resource growth equals 2 percent, then total output grows by

• A) 0 percent.
• B) 2 percent.
• C) 4 percent.
• D) 6 percent.
• E) 8 percent.

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Definitions:

Liable

Subject to legal responsibility for one's actions or omissions, potentially leading to civil or criminal penalties.

Good Faith

Acting with honesty and sincerity without any intention to defraud or seek undue advantage.

Without Recourse

A term indicating that the seller or transferor of a financial instrument is not liable to the buyer or transferee in case of default.

Discharged

Refers to the completion or termination of a legal obligation or debt.