The concept of diminishing returns explains why China is growing so much faster than the United States.
Correct Answer:
Verified
Q83: Capital accumulation alone can explain sustained economic
Q84: Catching-up growth occurs primarily through capital accumulation
Q85: Diminishing returns to capital means that twice
Q86: In the past several hundred years,economic growth
Q87: Growth consists of two types: catching-up growth
Q89: If a country is currently to the
Q90: In the Solow model,output increases when investment
Q91: The marginal product of capital diminishes with
Q92: The Solow model can be used to
Q93: Diminishing returns to capital prevent capital accumulation
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