The marginal product of labor is
A) total product divided by labor.
B) the change in total product divided by the increase in labor.
C) a measure of labor.
D) output that does not meet quality specifications.
E) total product minus the quantity of labor.
B
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What is the accelerator theory of investment spending?
What will be an ideal response?
In Figure 15.3, the Fed can decrease the equilibrium interest rate from 6 percent to 2 percent by
A. Decreasing the money supply. B. Selling bonds. C. Decreasing the reserve requirement. D. Increasing the discount rate.
According to the text, is there any relationship between bureaucratic inefficiency and economic growth?
A) Yes, bureaucratic inefficiency and economic growth are positively related. B) No. Some nations' economies grow rapidly despite their inefficient governments while others collapse with inefficient governments. C) Yes, but only in the most economically developed nations. D) Yes, bureaucratic inefficiency and economic growth are inversely related.
When institutional money managers use their computers to decide on large sales or purchases in the stock market, they are employing
A. the herd instinct. B. the bandwagon effect. C. program trading. D. stock watering.