As a firm hires more and more workers:
A) the value of marginal product of the additional workers eventually increases.
B) the marginal product of the additional workers remains the same.
C) the value of marginal product of the additional workers remains the same.
D) the value of marginal product of the additional workers eventually decreases.
D
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Suppose the measured unemployment rate is 7.5% and the true natural rate of unemployment is 5.1%. If the chair of the Fed believes the natural rate of unemployment to be 6.7%, then the chair will
A) stimulate the economy when it should be slowed. B) slow the economy when it should be stimulated. C) stimulate the economy, exactly as called for. D) slow the economy, exactly as called for.
According to Chamberlin, the fact that in the long run average total cost exceeds its minimum value under monopolistic competition is
A) the social cost of monopolistic competition. B) the most important reason for why monopolistic competition is not efficient. C) part of the cost of producing different products for consumers. D) actually beneficial because it makes adjustments easier when demand increases.
If income increases from $110,000 to $120,000 and consumption from $108,000 to $114,000 . the marginal propensity to consume is:
a. 0.40. b. 0.60. c. 0.94. d. 1.60.
When is debt financing most likely to harm future generations of Americans?
a. When the debt is held by domestic investors. b. Any time the debt is held by foreign investors. c. When the debt is held by foreign investors and the funds are channeled into productive investment projects. d. When the debt is held by foreign investors and the funds are used to finance either current consumption or unproductive investments.