In the above table, how many workers are employed when marginal product reaches its maximum?
A. 1
B. 2
C. 3
D. 4
Answer: C
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For the recessions in the United States since the 1950s
A) unemployment rises on average about 5 percentage points during the 12 months after a recession begins. B) unemployment falls on average by 2 percentage points during the 12 months after a recession begins. C) unemployment rises on average by about 1.2 percentage points during the 12 months after a recession begins. D) cyclical unemployment has been non-existent.
Falling output, in the short run, could be due to:
A. an increase in short-run aggregate supply. B. a reduction in aggregate demand. C. an increase in long-run aggregate supply. D. an increase in aggregate demand.
All of the following are possible funding sources for the government EXCEPT
A. borrowing. B. taxes. C. earnings from investing in company stock shares. D. user charges.
The long-run aggregate supply curve shows the relationship between the ________ and ________
A) inflation rate; quantity of real GDP demanded B) real interest rate; quantity of real GDP supplied C) nominal interest rate; quantity of real GDP supplied D) price level; quantity of real GDP supplied