question archive In a typical aggregate production function, total factor productivity denotes the quantity of aggregate output that we cannot explain solely by the contributions of the labor and capital inputs
In a typical aggregate production function, total factor productivity denotes the quantity of aggregate output that we cannot explain solely by the contributions of the labor and capital inputs
Subject:EconomicsPrice: Bought3
In a typical aggregate production function, total factor productivity
denotes the quantity of aggregate output that we cannot explain solely by the contributions of the labor and capital inputs. (Provide detailed answers for parts a and b)
a) In reality, what explains total factor productivity and its movements over time?
b) Discuss the problems we might face in trying to measure the factors contributing to changes in productivity over time.
