Total Factor Productivity

question 153

Multiple Choice

Total factor productivity:

• A)is the amount of output produced from a given amount of factor inputs.
• B)is not an essential element in long-run growth.
• C)is less important than technological progress.
• D)cannot be used to explain how contributions of factors of production affect a country's growth.

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Definitions:

Perception

The process by which organisms interpret and organize sensory information to produce a meaningful experience of the world.

Hue

A color or shade, especially one that denotes its position in the spectrum of light or on a color wheel.

Selective Attention

The process by which a person focuses on one input or task while ignoring other stimuli.

Environment

The surroundings or conditions in which a person, animal, or plant lives or operates.