N Distinguish between input growth of total factor productivity a components of economic growth

Question 1

Input growth as a component of economic growth

Answer 1

Driven by +inputs, where +labor force will result in greater economic growth over time than sustained growth of the capital stock of an equal magnitude

Question 2

Input growth as a component of economic growth

Answer 2

Driven by +inputs, where +labor force will result in greater economic growth over time than sustained growth of the capital stock of an equal magnitude

Question 3

Total Factor Productivity as a component of economic growth

Answer 3

Driven by technology ; growth in per capita potential GDP

Econ experiences DMR with additional inputs but tech takes care of that.

Question 4

Total Factor Productivity as a component of economic growth

Answer 4

Driven by technology ; growth in per capita potential GDP

Econ experiences DMR with additional inputs but tech takes care of that.