The cost of using an additional unit of an input is called the
A) marginal revenue product.
B) marginal physical product cost.
C) marginal factor cost.
D) marginal product of labor.
C
You might also like to view...
When an economy is operating at its full employment rate of output:
a. the rate of unemployment will be zero. b. output will exceed the economy's maximum sustainable rate. c. the actual rate of unemployment will equal the natural rate. d. the economy's potential rate of output will exceed actual GDP.
If a bushel of corn sells for $2 in the United States and for 4,000 COP (Colombian peso) in Colombia, and if 1 dollar is worth 2,200 COP, then:
a. the corn is 400 COP more expensive in Colombia. b. the corn is 400 COP cheaper in Colombia. c. the price of a bushel of corn equals $2 in both the United States and Colombia. d. the price of corn is 4,000 COP lower in Colombia than in the United States. e. the price of corn is $0.20 lower in the United States than in Colombia.
Market Index
What will be an ideal response?
When the Fed reduces the money supply, it will cause a decrease in aggregate demand because:
A. real rates will rise, lowering business investment and consumer spending. B. the dollar will depreciate on the foreign exchange market, leading to an increase in net exports. C. lower interest rates will cause the value of assets (for example, stocks) to rise. D. the national debt will increase, causing consumers to reduce their spending.