An Efficient Economy Would Set the Marginal Product in the Traditional

question 35

Multiple Choice

An efficient economy would set the marginal product in the traditional sector

• A) lower than that in the modern non-traditional sector.
• B) higher than that in the modern sophisticated sector.
• C) equal to that in the modern sophisticated sector.
• D) lower in the relatively capital intensive sector.
• E) higher in the relatively capital intensive sector.

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Definitions:

Innate

Something that is present from birth, not learned or acquired through experience.

Distal Stimulus

The actual object or event out in the world that you perceive, existing independently of your perception of it.

Chemical

A chemical is any basic substance that is used or produced in any chemical process, characterized by having a specific set of properties and composition.

Empiricist

An empiricist is someone who believes that knowledge comes primarily from sensory experience and observation.