Assume the total product of two workers is 200 and the total product of three workers is 300. The three workers' average product is ________ while the third worker's marginal product is ________.
A. 40; 80
B. 100; 100
C. 80; 40
D. 300; 200
Answer: B
You might also like to view...
Bo's actions would
A) have no impact on the September unemployment rate or the October unemployment rate. B) raise the September unemployment rate and lower the October unemployment rate. C) raise the September unemployment rate and not change the October unemployment rate. D) classify him as out of the labor force in September. E) raise the September unemployment rate and the October unemployment rate.
Faced with the evidence of poor working conditions and low wages in the border maquiladoras, economists
A) shrug their shoulders and ignore the issue. B) agree that trade theory is thus proven hollow and internally inconsistent. C) argue that U.S. consumers should not consume lettuce. D) argue that the poor conditions and low wages are actually improvements for the Mexican workers, and may be cited as gains-from-trade. E) argue that Mexico's generally high overall productivity offsets these conditions.
Economic resources are
A) all the items that people would purchase if they had limited wants. B) all the unlimited items that people would purchase with limited income. C) items of value that are used to make other things that satisfy people's wants. D) the total planned expenditures throughout the nation.
________ is financed through a payroll tax.
A. The Earned Income Tax Credit program B. The Social Security system C. The Public Housing program D. The SNAP program