Recently, economists have attributed the level of A, in the standard production function q = Ak, to reflect all of the following except:
A) social efficiency.
B) quality of institutions.
C) education policies.
D) technical efficiency.

Question

Quizplus · Accepted Answer

The level of A in the standard production function q = Ak reflects technical efficiency, but not necessarily the other factors listed (social efficiency, quality of institutions, and education policies). However, these factors can indirectly affect A by shaping the broader economic environment in which technical efficiency operates.

Recently, Economists Have Attributed the Level of A, in the Standard