If we assume that labor is the only variable input, the slope of the short-run ________ curve measures the marginal product of labor.
A. total cost
B. average product
C. total product
D. marginal product
Answer: C
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Why might economic policies aimed at stabilization actually increase the magnitudes of economic fluctuations?
What will be an ideal response?
Using aggregate demand and aggregate supply analysis, explain why increases in oil did not lead to stagflation in 2006-2008 but did lead to stagflation in the 1970s and early 1980s
According to economic reasoning, you should offer one hour of volunteer service per week when
A) the additional benefits of doing so are greater than the additional costs. B) the additional costs of doing so are the same as the additional benefits. C) the additional costs of doing so are greater than the additional benefits. D) the total benefits of doing so are less than the total costs.
Why do skilled workers generally earn more than unskilled workers?
A. The demand for unskilled labor is more inelastic than the demand for skilled labor B. Skilled labor has higher marginal revenue products than unskilled labor C. The demand for unskilled labor is greater than the demand for skilled labor D. The supply of skilled labor is greater than the supply of unskilled labor