Which of the Following Is the Correct Mathematical Expression to Calculate

question 70

Multiple Choice

Which of the following is the correct mathematical expression to calculate total factor productivity?

• A) Sales value of output produced ÷ Quantity of all inputs used
• B) Quantity of output produced ÷ Quantity of the input used
• C) Quantity of output produced ÷ Costs of all inputs used
• D) Sales value of output produced ÷ Cost of inputs required to produce current year production in previous year

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Definitions:

Inventory

The total amount of goods and materials held by a business for the purpose of resale or production.

Contradict

to assert the opposite of a statement made by someone, implying disagreement or denial.

Automates

The process of making an operation or procedure carried out without human intervention through the use of mechanical or electronic devices.

Agency

A relationship where one party (the agent) is authorized to act on behalf of another (the principal) in dealing with third parties.