Total factor productivity is measured by dividing total cost of providing goods and services by the value of goods and services.

Name: Total factor productivity is measured by dividing total cost of providing goods and services by the value of goods and services.
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Question

Quizplus · Accepted Answer

Total factor productivity is measured by the ratio of output (goods and services produced) to the input (labor, capital, materials, and services) used in production, not by dividing total cost by the value of goods and services.

Total Factor Productivity is Measured by Dividing Total Cost of Providing