The Soviet Union consistently increased the amount of capital available to its workers, but found that increases in capital resulted in progressively smaller and smaller increases in GDP per worker. This phenomenon is referred to as
A) diminishing returns to capital. B) a rising standard of living.
C) new growth theory. D) a shift of the per-worker production function.
A
Economics
You might also like to view...
Protectionism refers to:
A) subsidizing imports. B) reduction of trade barriers. C) increased export of goods and services. D) reducing the competition faced by domestic firms.
Economics
The highest rate of U.S. growth was recorded in which of the following periods?
A) 1948-73 B) 1967-83 C) 1974-95 D) 1996-2008
Economics