Author Question: The total factor productivity of an economy is the ratio of the economy's _____. a. total income to ... (Read 97 times)

BrownTown3 · **on:** Jun 30, 2018

The total factor productivity of an economy is the ratio of the economy's _____.
a. total income to its total population
b. output to its total stock of labor and capital
c. stock of capital to its stock of labor
d. total population to its total labor force
e. total capital stock to its total population

Question 2

If 400 apple pies are sold at 4 per pie, but 500 apple pies are sold at 3 per pie, we know from the total revenue rule:
a. that the demand for pies is elastic over that price range.
b. that the demand for pies is inelastic over that price range.
c. that the demand for pies is unit elastic over that price range.
d. nothing about the elasticity of demand.