Diminishing returns to labor exists
A) in any economy.
B) only in an economy where most of the output comes from the agricultural sector.
C) only in an economy with no technological growth.
D) only in a pre-Industrial Revolution economy.
E) only in an economy with no capital and technology.
Correct Answer:
Verified
Q6: When capital is included in the production
Q7: Productivity is defined as
A)output per person.
B)output per
Q8: The total amount of capital in the
Q9: The rationale for developing a model in
Q10: As more capital is added per worker,
Q12: Which of the following is true?
A)Growth in
Q13: Prior to 1800, productivity growth averaged
A)1 percent
Q14: Which of the following should be focused
Q15: A theory without capital or technology
A)is of
Q16: Productivity continues to grow in the twenty-first
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents