Question

26) The idea that additional spending on research and development will produce additional knowledge that may...

26) The idea that additional spending on research and development will produce additional knowledge that may further increase the productivity of capital is an argument used by some economists to claim that knowledge is subject to ________ returns.

A) decreasing

B) increasing

C) constant

D) negative

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Answer #1

As you spend more and more on research initially we will get to find out more and later on the amount you get to find out will be less per extra amount as a result of which this can be termed as decreasing returns to scale where the additional findings will reduce with the increase in research spending.

Therefore (A) is the answer to this question.

Because the amount of findings decrease with increase in spending, it is decreasing returns and that's why

(B,C,D) are wrong

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