The value of the marginal product of labor is calculated by multiplying the
a. price of output by the quantity of labor.
b. price of output by the marginal product of labor.
c. wage by the quantity of labor.
d. wage by the marginal product of labor.
b
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By taking the long position on a futures contract of $100,000 at a price of 115 you are agreeing to ________ a ________ face value security for ________
A) sell; $100,000; $115,000. B) sell; $115,000; $100,000. C) buy; $100,000; $115,000. D) buy; $115,000; $100,000.
One type of economic regulation often used in the United States by various public utility commissions allows prices to reflect only the actual cost of production and no monopoly profits. This type of economic regulation is known as
A) rate-of-return regulation. B) cost-of-service regulation. C) price per constant-quality-unit regulation. D) creative response regulation.
Interest rates in the economy have risen. How will this affect aggregate demand and equilibrium in the short run?
A) Aggregate demand will fall, the equilibrium price level will fall, and the equilibrium level of GDP will fall. B) Aggregate demand will fall, the equilibrium price level will rise, and the equilibrium level of GDP will fall. C) Aggregate demand will rise, the equilibrium price level will rise, and the equilibrium level of GDP will rise. D) Aggregate demand will rise, the equilibrium price level will fall, and the equilibrium level of GDP will rise.
Minority workers are underrepresented and have less access to certain high-paying occupations. This illustrates:
A. human-capital discrimination. B. the crowding model. C. the taste-for-discrimination model. D. statistical discrimination.