The change in output caused by a one-unit change in labor is referred to as the
A) compounded physical product of labor.
B) average product of labor.
C) marginal product of labor.
D) total product of labor.
Answer: C
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Which of the monetary policy tools can alter both the level of excess reserves and the money multiplier?
A. The reserve requirement B. The discount rate C. Open-market operations D. The federal funds rate
Results of research conducted regarding the Moving to Opportunity program found all of the following except
A) boys and girls who moved to low-poverty neighborhoods were less likely to be arrested. B) boys who moved to low-poverty neighborhoods displayed less cruel or mean behavior. C) girls who moved to low-poverty neighborhoods had fewer behavioral difficulties. D) boys and girls who moved to low-poverty neighborhoods were less likely to be victims of crimes.
Giving managers an ownership stake in a company is an example of
A) a command system. B) an incentive system. C) a system that encourages managers to become agents that monitor their principals. D) economies of scope.
In Sewei's lawnmowing business, in order to produce each mowed lawn, Sewei must hire exactly one unit of capital (a lawnmower) and exactly one unit of labor. Describe the elasticity of substitution between labor and capital
What will be an ideal response?