Aggregate Production Functions
In macroeconomics, aggregate production functions for whole nations are sometimes constructed. In theory they are the summation of all the production functions of individual producers; however there are methodological problems associated with aggregate production functions, and economists have debated extensively whether the concept is valid.
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Famous quotes containing the words aggregate, production and/or functions:
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—George Bluestone, U.S. educator, critic. “The Limits of the Novel and the Limits of the Film,” Novels Into Film, Johns Hopkins Press (1957)
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