The traditional view of the production process is that capital is subject to
a. diminishing returns, so that other things the same, real GDP in poor countries should grow at a faster rate than in rich countries.
b. diminishing returns, so that other things the same, real GDP in poor countries should grow at a slower rate than in rich countries.
c. increasing returns, so that other things the same, real GDP in poor countries should grow at a faster rate than in rich countries.
d. increasing returns, so that other things the same, real GDP in poor countries should grow at a slower rate than in rich countries.
a
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The required reserve ratio is the ratio of reserves to ________ required by banking regulations
A) deposits B) loans C) profits D) currency
There was a silver lining during the Great Depression. Compared to other periods in U.S. history, this period was one of the most technologically advanced
Indicate whether the statement is true or false
According to this Application, the decrease in consumer wealth due to decreases in the value of home equity has
A) decreased consumer spending. B) decreased the marginal propensity to save. C) increased short-run aggregate supply. D) increased consumer saving.
Suppose, as a result of a long-run adjustment in a perfectly competitive industry to a change in demand, price and output both rose. Therefore, demand must have __________ in this __________ industry
a. fallen; increasing cost b. fallen; decreasing cost c. increased; increasing cost d. increased; decreasing cost e. decreased; constant cost