What Is the Growth in Resources When Total Factor Productivity

question 104

Multiple Choice

What is the growth in resources when total factor productivity grows by 1.5 percent and the economy grows by 4 percent?

• A) 6 percent
• B) 5.5 percent
• C) 4 percent
• D) 2.5 percent
• E) 1.5 percent

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Definitions:

Reasonable Effort

The degree of diligence and attention expected under certain circumstances, typically what a reasonable person would do.

Nonconforming Goods

Merchandise that does not meet the specifications or requirements as outlined in a contract.

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