International Monetary Fund
May 23, 2025 at 09:43 PM
📣 *Poll Reveal: What is total factor productivity (TFP)?*
The correct answer is: *C – How efficiently an economy turns inputs into income.*
For macroeconomists, total factor productivity measures how efficiently an economy turns inputs - like labor, land, and machines - into income.
If an economy's income goes up without using more resources, or stays the same while using less, it is said to enjoy higher TFP.
🎥 Watch the full explainer here:
https://www.youtube.com/watch?v=ht7Yxcd4QLk
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