GDP can be represented by the equation: GDP = F x (Fe/F)x (GDP/Fe). The term Fe represents
A)the factor- utilization rate.
B)factor productivity.
C)income per person.
D)output per capital.
E)the number of employed factors.

Question

Quizplus · Accepted Answer

Fe represents the number of employed factors, which is used in the equation to calculate GDP by considering the factor utilization and productivity.

GDP Can Be Represented by the Equation: GDP = F