For Three Years, There Was No Technological Change in Longland

question 49

Multiple Choice

For three years, there was no technological change in Longland but capital per hour of labour increased from $10 to $20 to $30 and real GDP per hour of labour increased from $3.80 to $5.70 to $7.13. Then in the fourth year, capital per hour of labour remained constant but real GDP per hour of labour increased to $10. Longland ________ experience diminishing returns because ________.

• A)does; in the fourth year capital per hour of labour does not change
• B)does; as capital per hour of labour increases, real GDP per hour of labour increases but by smaller amounts
• C)does not; as capital per hour of labour increases, real GDP per hour of labour also increases
• D)does not; in the fourth year capital per hour of labour does not change
• E)does; all countries experience diminishing returns

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Definitions:

Sensation Seeking

A trait describing the need for varied, novel, and complex sensations and experiences, as well as the willingness to take physical and social risks for such experiences.

Apathy

A state of indifference where an individual shows little to no interest, enthusiasm, or concern towards aspects of life.

Impulsivity

Impulsivity is the tendency to act on urges without considering the future consequences of one's actions, often associated with a range of psychological conditions.

Intranasal

A route of administration where drugs are delivered through the nose directly to the bloodstream.