The Development of Renewable Energy Resources Will Likely

question 49

Multiple Choice

The development of renewable energy resources will likely

• A)increase international tensions.
• B)increase the need for oil imports.
• C)decrease national security.
• D)cause long-term economic hardship.
• E)reduce harm to the environment.

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Definitions:

Average Product

The output per unit of input, calculated by dividing total product by the total quantity of input used to produce that output.

Nonlabor Resources

Inputs or resources used in production that do not include human labor, such as raw materials, machinery, and land.

Marginal Product

The additional output generated by adding one more unit of a specific input, such as labor or capital, while holding other inputs constant.

Total Product

Total product refers to the total quantity of output produced by a firm within a given period as a result of inputs like labor and capital.