What Is the Objective Function

question 45

Multiple Choice

What is the objective function?

• A)$1 A + $2 B = Z
• B)$12 A + $8 B = Z
• C)$2 A + $1 B = Z
• D)$8 A + $12 B = Z
• E)$4 A + $8 B = Z

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Definitions:

GDP

Gross Domestic Product is the total market value of all final goods and services produced within a country in a given period of time.

Real GDP per Person

A measure of a country's economic output that accounts for its number of people, adjusting for inflation to reflect the true purchasing power per individual.

Expenditure

The action of spending funds or an amount of money spent.

Income

Funds that are earned, frequently on a consistent schedule, from labor or investing activities.