The "Law" of Diminishing Returns

question 21

Multiple Choice

The "law" of diminishing returns

• A)is deduced from the basic biochemical relationship of agricultural theory.
• B)was constructed as the basis of observation during experiments on the impact of fertilizer on output in the 1930s.
• C)is based on regular observations of input-output relationships over the last two centuries.
• D)is borrowed from physical laws related to conversion of matter and energy.

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Definitions:

Taney

Roger B. Taney, the fifth Chief Justice of the United States, best known for delivering the majority opinion in the Dred Scott v. Sandford case, which declared that African Americans could not be American citizens and negated the Missouri Compromise.

American Global Economic System

The international economic influence and policies of the United States, including trade practices, investment flows, and the promotion of free market principles.

Jacksonian Democrats

Members of the Democratic Party during the presidency of Andrew Jackson, advocating for the common man and against entrenched interests.

Tariff of Abominations

The informal name given to the Tariff of 1828, which protected industry in the northern United States but harmed Southern economic interests by raising prices on imported goods.