Were it not for the law of diminishing marginal returns, we could grow the world's food supply from a flowerpot
Indicate whether the statement is true or false
True . Given the current state of technology, the law of diminishing marginal returns limits the amount of additional output yielded from additional labor working the flowerpot. Revoking the "law" would allow output to increase at a non-decreasing rate when more labor is applied to the flowerpot.
You might also like to view...
If the national debt is owed entirely to U.S. citizens,
A. paying off the debt will necessarily stimulate growth. B. future interest payments on the debt are not a burden to the nation as a whole. C. future economic growth will necessarily be slowed. D. the debt constitutes a burden to these citizens.
A decrease in net taxes at a given price level leads to
A. a decrease in aggregate demand. B. no change in aggregate demand. C. a decrease in aggregate supply. D. an increase in aggregate demand.