When the Exponents of a Cobb-Douglas Production Function Sum to More

question 43

Multiple Choice

When the exponents of a Cobb-Douglas production function sum to more than 1,the function exhibits

• A)constant returns.
• B)increasing returns.
• C)decreasing returns.
• D)either increasing or decreasing returns.

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Definitions:

Western Mass Media

Media outlets originating in the Western world, including television, radio, newspapers, and the internet, that can influence public opinion and cultural norms.

Globalization

The method through which individuals, businesses, and governments across the globe communicate and merge.

Industrialized Nations

Countries that have undergone industrialization, characterized by significant economic growth through the development of manufacturing and services industries.

Modernization Theory

A theory suggesting that economic development leads to predictable cultural and social changes towards a modern state similar to Western societies.