In the equation for the production function Y = A x F (L, K) , 'A' stands for:
A) the amount of labour.
B) the amount of capital.
C) an adjustment factor that captures the effect of technology.
D) an adjustment factor that captures the effect of entrepreneurship.
Correct Answer:
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Q13: To the economist, productive capital is defined
Q14: The production function shows the relationship between:
A)
Q15: Y = A x F(L, K) is
Q16: Based on a simple production function, potential
Q17: A simple production function can be written
Q19: In terms of 'growth accounting' the sources
Q20: The Solow residual is:
A) the difference between
Q21: The Solow residual found by the growth
Q22: According to the growth accounting methodology, total
Q23: If the labour-income is 2/3 of national
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