Which of the Following Is True of the Growth in the U.S.economy

question 117

Multiple Choice

Which of the following is true of the growth in the U.S.economy from 1950 to 2007?

• A) Growth resulting from technology > growth resulting from human capital > growth resulting from physical capital
• B) Growth resulting from technology > growth resulting from physical capital > growth resulting from human capital
• C) Growth resulting from physical capital > growth resulting from technology > growth resulting from human capital
• D) Growth resulting from human capital > growth resulting from technology > growth resulting from physical capital

---

Definitions:

Total Revenue

Total revenue is the overall amount of money generated by a firm from its sales activities, calculated as the price of goods or services sold multiplied by the quantity sold.

Marginal Product

The additional output produced as a result of adding one more unit of a specific input, keeping all other inputs constant.

Total Revenue

The overall income generated by a business from selling its goods or services before any costs are deducted.

Value of the Marginal Product

The additional revenue generated by employing one more unit of input, such as labor or capital.