According to Nobel Laureate Simon Kuznets, the Greatest Increase in Output

question 198

Multiple Choice

According to Nobel Laureate Simon Kuznets, the greatest increase in output and economic growth comes from changes in the _____

• A) quantity of loanable funds.
• B) quantity of natural resources (land).
• C) quantity of labor.
• D) quality of resources.
• E) quantity of capital.

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Definitions:

Variable Manufacturing Cost

Costs associated with manufacturing that vary directly with the level of production, such as materials and labor.

Shipping Costs

Expenses associated with the transportation of goods from one location to another.

Transfer Price

The price at which divisions of a company transact with each other, such as the trade of supplies or labor between departments.

General Rule

A principle or guideline that applies broadly across different contexts or situations, often serving as a standard for decision-making.