In the formula used to measure the growth rate of multifactor productivity, the contribution of labor is represented by
A) bn.
B) bk - bn.
C) y - bk.
D) (1 - b)n.
D
Economics
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A steel company sells some steel to a bicycle company for $150 . The bicycle company uses the steel to produce a bicycle, which it sells for $250 . Taken together, these two transactions contribute
a. $150 to GDP. b. $250 to GDP. c. between $250 and $400 to GDP, depending on the profit earned by the bicycle company when it sold the bicycle. d. $400 to GDP.
Economics
Refer to the diagram. The long-run aggregate supply curve is:
A. A.
B. B.
C. C.
D. D.
Economics