Set of macroeconomic factors

Since 2010, tourism promoting policies have been implemented to drive economic growth and also economic development in Thailand. Government allocated a significant budget to promote tourism sector. As a result, tourism revenues have also been increased significantly.

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Notes to the students: The concept of “Marginal Physical Product – MPP” in this problem set is exactly the same that of “Marginal Productivity – MP” in the lecture Multiple Choice Questions 1. Which of the following are factors of production? A. Output in a production function B. Productivity C. Land, labor, capital, and entrepreneurship D. Implicit and explicit costs

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