Suppose than an economy has output Y = A , that Y equals $42 trillion, capital K is $64 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
D
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Unemployment compensation is an example of a(n):
a. discretionary stabilizer. b. countercyclical stabilizer. c. procyclical stabilizer. d. seasonal stabilizer. e. automatic stabilizer.
Crowding out occurs when
a. investment declines because a budget deficit makes interest rates rise. b. investment declines because a budget deficit makes interest rates fall. c. investment increases because a budget surplus makes interest rates rise. d. investment increases because a budget surplus makes interest rates fall.
Artificially scarce goods are both:
a. excludable and rival in consumption. b. nonexcludable and nonrival in consumption. c. excludable and nonrival in consumption. d. nonexcludable and rival in consumption.
Most games in real life:
A. require intuition, common sense, and calculations. B. require a rollback strategy. C. have a best solution. D. require a mixed strategy.