Total factor productivity refers to: Group of answer choices factors of production other than the primary factors total production in the economy total production in the economy due to the primary factors of production all factors of production

The amount of output that can be produced from given amounts of labour and capital depends on:Group of answer choicesdemand and supplynone of the other optionstotal factor productivityprimary factors

Effective factor endowment isGroup of answer choicesthe amount of factor available in a given countrythe amount of factor available in a given country multiplied by the productivity of this factorthe productivity of a factor in a given countrythe amount of factor actually employed in production

What is output per labor-hour?Multiple choice question.ProductivityCapital-intensiveLabor-intensiveA factor of production

The three primary factors of production areGroup of answer choicesrevenue, profits, and costs.price, quantity, and profits.capital, interest, and savings.land, labor, and capital.labor, wages, and training.

he Aggregate Production Function method for thinking about economy-wide pro-duction is usually written like Y = A × F (K, H) where K is capital, H = hL ishuman-capital adjusted labour, and A is total factor productivity or technology.a) Give three examples of factors of an economy which might be captured by the‘technology’ term A in this expression.b) If the government wants to encourage long-run economic growth in society,which of the factors above (A, K, or H) should the government try to increase,and why. (For each factor you should say whether it could be targeted by thegovernment and why/why not.)