The Table Below Shows Various Values of Labour (L),capital (K),and

question 105

Multiple Choice

The table below shows various values of labour (L) ,capital (K) ,and technology (T) for Economies A,B,and C.In each case,the aggregate production function takes the following form:
Y = T × TABLE 25-4
-Refer to Table 25-4.The production function that applies to Economies A,B,and C displays

• A)increasing returns to scale.
• B)increasing marginal returns to labour.
• C)diminishing marginal returns to labour.
• D)constant returns to scale.
• E)Both C and D are correct.

---

Definitions:

Corrupt Bargain

A term used to describe the alleged deal between John Quincy Adams and Henry Clay that secured Adams' presidency in exchange for Clay becoming Secretary of State, following the contested presidential election of 1824.

John C. Calhoun

A prominent American statesman and political theorist from South Carolina who served as Vice President and was a staunch defender of states' rights and slavery.

John Quincy Adams

John Quincy Adams was the sixth President of the United States, serving from 1825 to 1829, and was known for his strong opposition to slavery and his role in the Amistad case.

White House

The formal dwelling and office of the United States President, positioned at 1600 Pennsylvania Avenue NW, Washington, D.C.