Which of the following is true about labor productivity?
A) it is the amount of total factor productivity (TFP) per unit of labor
B) it is more difficult to measure than TFP
C) it is a more general and better measure of productivity than TFP
D) all of the above
E) none of the above
E
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If two workers can produce 22 units of output, and the addition of a third worker increases output to 30 units, the marginal product of the third worker is:
a. 8 units. b. 10 units. c. 22 units. d. 30 units.
The number of times per year each dollar is used to transact an exchange is the:
a. quantity theory of money. b. velocity of money. c. equation of exchange. d. turnover rate. e. expenditure rate.
France uses civil law
a. True b. False
Lauren noticed that in the last 60 games, her hometown minor league baseball team won 40 times. Lauren estimate the probability of losing the game to be
A) 1/6. B) 1/4. C) 1/3. D) 1/2.