Which of the Following Statements Best Summarizes the Law of Diminishing

question 92

Multiple Choice

Which of the following statements best summarizes the law of diminishing marginal returns?

• A) In the short run, as more labor is hired, output diminishes.
• B) In the short run, as more labor is hired, output increases at a diminishing rate.
• C) In the short run, the amount of labor a firm will hire diminishes as output increases.
• D) As more labor is hired, the length of time that defines the short run diminishes.

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Definitions:

Fair Deal

A set of domestic reforms proposed by U.S. President Harry S. Truman in 1949, including civil rights, healthcare, and education improvements.

Taft-Hartley Act

A 1947 U.S. federal law that restricted the activities and power of labor unions, formally known as the Labor Management Relations Act.

Operation Wetback

A 1950s U.S. immigration law enforcement initiative aimed at the mass deportation of undocumented Mexican immigrants.

Universal Declaration of Human Rights

A foundational document adopted by the United Nations in 1948, outlining the rights and freedoms entitled to all human beings.