Thanks to the Benefits of Outsourcing and Offshoring,manufacturing in the United

question 6

Multiple Choice

Thanks to the benefits of outsourcing and offshoring,manufacturing in the United States,as a percentage of GDP,has ______.

• A)declined from about 30% after World War II to 10% by 2008
• B)increased from about 10% after World War II to 30% by 2008
• C)declined from about 65% after World War II to 45% by 2010
• D)increased from about 45% after World War II to 65% by 2010

---

Definitions:

Market

A group of buyers and sellers of a particular good or service.

Diminishing

A principle often referring to diminishing returns, where additional inputs result in progressively smaller increases in output.

Marginal Product

The additional output resulting from the use of one more unit of a production input, holding all other inputs constant.

Production Function

An economic model that describes the relationship between the inputs a firm uses and the output it creates.