Due to diminishing marginal returns, the ultimate source of economic growth in the United States from 1949 to 2010 has been
A) capital.
B) labor.
C) total factor productivity.
D) Capital, labor, and total factor productivity are all subject to diminishing marginal returns, and therefore are all equally responsible for economic growth.
C
You might also like to view...
Policymakers are discussing various proposals regarding how to deal with natural monopolies. Senator Huff wants to regulate natural monopolies by equating price with average total cost. Huff contends that such a policy will ensure that monopolies make every effort to reduce costs. Senator Puff wants the government to own natural monopolies. Puff argues that government-owned monopolies usually do
a better job of holding down costs than privately owned monopolies. Which senator's argument is correct? a. Senator Huff b. Senator Puff c. both senators d. neither senator
By the late 1970s,
A. Russia began reforms which eventually transformed it to a more market-oriented economy. B. China began reforms which eventually transformed it to a more market-oriented economy. C. Russia and China were both quickly becoming market-oriented economies. D. None of the choices are true.