The production function is given as Y = AF(L, K, H, N) , where Y is the quantity of output, A is the level of available production technology, L is the quantity of labour, H is the quantity of human capital and N is the quantity of natural resources.This equation provides:
A) a summary for the four determinants of productivity
B) a summary for the four determinants of production
C) a foundation for measuring inflation
D) a measure of the availability of natural resources
Correct Answer:
Verified
Q24: A production function shows the relationship between:
A)the
Q25: An externality:
A)can only be positive
B)is the effect
Q26: Reducing the rate of population growth is
Q27: Holding the amount of capital constant, if
Q28: Although technological knowledge and human capital are
Q30: The amount that a nation trades with
Q31: If Ernest Rutherford died and left $8000
Q32: The catch-up effect is the idea that:
A)savings
Q33: The term constant returns to scale refers
Q34: Human capital is:
A)the stock of equipment and
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