The Input That Is Generally Hard to Measure Directly and Consequently

question 42

Multiple Choice

The input that is generally hard to measure directly and consequently can be reasonably estimated with the growth accounting equation is:

• A) technology.
• B) physical capital.
• C) labor.
• D) land.

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Definitions:

Mutual Assent

Mutual assent is a principle in contract law that states an agreement must involve a clear offer and acceptance between parties to be legally binding.

Consideration

In contract law, it refers to something of value exchanged between parties as part of a contract, required for the agreement to be legally binding.

Capacity

The legal ability, competency, or power to enter into a contract.

Legality

The state or quality of being in accordance with the law; adherence to the law.