Total Factor Productivity Can Be Influenced by

question 7

Multiple Choice

Total factor productivity can be influenced by

• A) new inventions.
• B) less capital.
• C) more labour.
• D) increases in the price of inputs.
• E) consumption per worker.

Recognize the role of innovation during the industrial revolution.

Assess the relationship between health care spending and GDP.

Evaluate work hours in relation to productivity and international comparisons.

Understand the basic concepts of GDP per capita and its significance in comparing economic health.

---

Definitions:

Social Obligations

Duties or responsibilities of individuals to participate and contribute to their community and society at large, often tied to cultural, ethical, or legal expectations.

Colonial Elite

Colonial Elite refers to the small, wealthy, and powerful group of individuals in colonial societies who often held significant economic, political, and social influence over the territories they controlled.

Wealth

An abundance of valuable financial assets or physical possessions which can include money, land, and/or investments.

Power To Rule

The legitimate or sanctioned ability of an entity, organization, or individual to govern or control others within a defined jurisdiction or scope.