Because of Diminishing Returns to Capital, There Is a Limit

question 149

Multiple Choice

Because of diminishing returns to capital, there is a limit to the increases in average labor productivity that can be gained from additional or improved ________.

• A)availability of land and natural resources
• B)physical capital
• C)imports
• D)entrepreneurship

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Definitions:

Cost-Benefit Analysis

A systematic approach to estimating the strengths and weaknesses of alternatives used to determine the best action to achieve benefits while minimizing costs.

Textbook Selection Committee

A group of individuals, often educators, who evaluate and recommend textbooks for adoption in educational settings.

Analytical Level

The degree or scale of examination or scrutiny applied when reviewing a concept, scenario, or data set.

Majority Voting

A decision-making process in which the option that receives more than half of the votes is selected.