$\text { Consider the following production function }$ Y = A×K^a×L^1?a

question 3

Multiple Choice

$\text { Consider the following production function }$ Y = A×K^a×L^1?a. If a = 0.4, and over the past year total factor productivity (TFP) grew 2.6 percent, capital grew 2 percent, and labor grew 1 percent, what was the growth rate of output over the year?

• A)2 percent
• B)3 percent
• C)4 percent
• D)5 percent

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Definitions:

Motivation Component

The elements that drive and direct behavior towards achieving personal goals or fulfilling needs.

Activation

This term refers to the process of stimulating activity within the brain or body, leading to increased responsiveness or action.

Homeostasis

The tendency of a biological system to maintain stability while adjusting to conditions that are optimal for survival.

Vigor

Physical strength, good health, and energy, often used to describe a robust level of activity or vitality.