_______ is generally hard to measure directly but can be reasonably estimated with the growth accounting equation.

Question

Quizplus · Accepted Answer

Technology is generally hard to measure directly because it involves intangible ideas, processes, and knowledge. However, it can be reasonably estimated with the growth accounting equation, which allows us to account for the contributions of physical capital, labor, and technology to economic growth. Land is also a factor of production, but its contribution to economic growth is typically captured by physical capital. Therefore, the best choice is A) Technology.

_______ Is Generally Hard to Measure Directly but Can Be