Suppose Than an Economy Has Output Y = a

question 53

Multiple Choice

Suppose than an economy has output Y = A ,that Y equals $12 trillion,capital K is $27 trillion,and labor L is 64 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:

Renewable Resource

Natural resources that can be replenished naturally with the passage of time, such as sunlight, wind, and biomass.

Migration Rates

The numerical measurement of the movement of people from one region or country to another, often quantified as the number of individuals per thousand or hundred thousand.

Birthrates

The number of live births per thousand of population per year.

Demographers

Experts who study populations, including their sizes, distributions, and trends, by analyzing birth, death, migration, and aging patterns.