According to the law of diminishing returns, if population grows, but the amount of available resources stays the same, output will ______.
a. fall at an inverse rate
b. stay the same
c. rise, but by ever shrinking amounts
d. rise at a steady rate
c. rise, but by ever shrinking amounts
You might also like to view...
How does a pure public good differ from a club good? In your answer, give an example of each type of good
What will be an ideal response?
A unit-elastic demand curve will be concave toward the origin .
Answer the following statement true (T) or false (F)
Which of the following are ways to ration goods and services?
A) price B) physical force C) political power D) All of the above are correct.
Which of the following is most important if a country wants to move from a low-income to a high-income status?
a. high rates of monetary growth. b. sustained economic growth. c. high real interest rates. d. high nominal interest rates.