According to the aggregate production function, GDP increases when a nation,
- improves its technology, A
- increases its stock of physical capital, K
- increases the human capital of its workers, H
<h3>What is aggregate production function?</h3>
An aggregate production function holds constant all other production factors, like as capital, natural resources, and technology, and connects the entire output of an economy to the total amount of labour engaged in that economy. Land, labour, capital, and entrepreneurial activity are the elements that make up aggregate production function.
A method for determining productivity and economic growth is the aggregate production function. Therefore, economists use it to gauge the efficacy of the final product and the quality of the inputs. The maximum output that can be produced given the quantity of the production elements is represented by the aggregate production function. Keep in mind that the following uses lower case letters for plant level variables and capital letters for aggregate variables.
Hence, According to the aggregate production function, GDP increases when a nation,
- improves its technology, A
- increases its stock of physical capital, K
- increases the human capital of its workers, H
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Answer:
Six Sigma approach is the right answer.
Explanation:
Six Sigma is a quality program that improves customers' experience and lowers business costs. It means a measure of quality which strives for near perfection. Its name can vary from organization to organization. Some of the other names of six sigma are operational excellence and zero defects. It is a data-driven disciplined approach for eliminating defects in different processes. It is used in manufacturing, transactional and services.
Answer: Option C
Explanation: As per the monetary unit assumption, only those transactions that could be valued in monetary terms are considered to be important. The transactions or events that have only qualitative aspects are non relevant for accounting purposes.
It makes a assumption that the value of dollar will remain stable over time, which is incorrect. This concept does not take into consideration the problem caused by the historic cost recording.
Hence from the above we can conclude that the correct option is C.
Answer:
Option "C" is the correct answer to the following statement.
"Are our competitors conducting market research as well"
Explanation:
Managers or administrators should always focus on their work, they have to try to provide their best views or researches to the business and not to depend on the other firm or organization.
If the managers and other administrations focus on what other Competitors do, they will be lost there work efficiency and potential.
Answer:
more
Explanation:
When the price of a goods increases two effects known as substitution and income effect will occur.
Substitution effect occurs when an increase in the price of a good encourages a consumer to buy alternative goods.
Income effect occurs when the price of a good rises, this reduces drastically the disposable income, hence, there will be a lower demand for the goods.
In the question, we are told income effect dominates. The rise of price of paintbrushes only means Becky can purchase fewer paintbrushes and more of the bulk of the money she has is used in purchasing hiking boots instead.