Which of the following statements is equivalent to the law of diminishing marginal returns?
a. A stitch in time saves nine.
b. You can't make an omelet without breaking eggs.
c. Too many cooks spoil the broth.
d. If you can't stand the heat, get out of the kitchen.
c
You might also like to view...
Answer the following statement(s) true (T) or false (F)
1. Actuarial risks are based on factual data. 2. A reference dose (RfD) measures the daily exposure to some contaminantthat can be tolerated over a person’s lifetime. 3. According to the textbook application on the ecological risks associated with climate change, all such risks are known with certainty. 4. The EPA has developed the same guidelines for assessing both human health risks and ecological risks. 5. In an ecological risk assessment, the step in which the ecological entity that is potentially at risk is identified is called the analysis phase.
Answer the next question based on the following data. All figures are in billions of dollars.Personal taxes$40Social security contributions15Taxes on production and imports20Corporate income taxes40Transfer payments22U.S. exports24Undistributed corporate profits35Government purchases90Gross private domestic investment75U.S. imports22Personal consumption expenditures250Consumption of fixed capital25Net foreign factor income10Statistical discrepancy0GDP is ________.
A. $417 B. $492 C. $390 D. $422
Which of the following statements is correct?
A) An increase in people's expected future income shifts the aggregate demand curve leftward. B) A tax increase shifts the aggregate demand curve leftward. C) An increase in potential GDP shifts the aggregate demand curve rightward. D) An increase in exports shifts the aggregate demand curve leftward. E) The higher the price level, the larger is the quantity of real GDP demanded.
The linear stages theory of economic growth fails to recognize that increased investment is
a. both a necessary and a sufficient condition. b. a necessary but not a sufficient condition. c. a sufficient but not a necessary condition. d. neither a necessary nor a sufficient condition.