Suppose Than an Economy Has Output Y = a

question 45

Multiple Choice

Suppose than an economy has output Y = A ,that Y equals $19 trillion,capital K is $27 trillion,and labor L is 125 million workers.Given this information,what is the closest approximation of total factor productivity A?

• A)less than 0.01
• B)around 0.25
• C)roughly 0.33
• D)close to 0.4
• E)exactly 144

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Definitions:

Illegal Actions

Activities that are forbidden by law, including in the context of labor and employment, such actions could involve unauthorized strikes or discrimination.

Union Members

Members of a labor union, a group that advocates for employees in discussions concerning salaries, benefits, and employment terms with their employers.

Formal Decision

A decision made through established processes or protocols, often documented and official in nature.

Unfair Labor Practice

Actions by employers or unions that violate the rights of employees or the organization’s rules set by labor relations boards.