The Fact That the Production Function Relating Output to Capital

question 100

Multiple Choice

The fact that the production function relating output to capital becomes flatter as we move from left to right means that

• A)the marginal product of labour is positive.
• B)the marginal product of capital is positive.
• C)there is diminishing marginal productivity of labour.
• D)there is diminishing marginal productivity of capital.

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Definitions:

Executive Control System

The component of the brain responsible for regulating attention, making decisions, and managing cognitive processes required for goal-directed behavior.

Sensory Memory

The shortest-term element of memory which allows individuals to retain impressions of sensory information after the original stimuli have ended.

Short-Term Memory

A capacity for holding a small amount of information in mind in an active, readily available state for a short period of time.

Long-Term Memory

A type of memory capable of storing information for an extended period, from hours to decades.