The growth rate of total factor productivity is equal to the growth rate of resources plus economic growth.

Question

Quizplus · Accepted Answer

The growth rate of total factor productivity (TFP) is not equal to the growth rate of resources plus economic growth. TFP is a measure of how efficiently inputs (resources) are transformed into output, and it reflects technological progress and innovation. TFP growth can contribute to economic growth, but it is not determined solely by changes in resource growth or economic growth.

The Growth Rate of Total Factor Productivity Is Equal to the Growth