The marginal revenue product of capital is
a. the increase in output that results from employing one more unit of capital
b. the increase in profit that results from employing one more unit of capital
c. the increase in revenue that results from employing one more unit of labor
d. the increase in revenue that results from employing one more unit of capital
e. the increase in profits that results from employing one less unit of labor
D
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For the U.S. economy, the largest expenditure category is:
A) government expenditures. B) net export expenditures. C) personal consumption expenditures. D) investment expenditures.
In practice, one of the principal problems with aggregate demand management is that
A) changes in aggregate demand do not affect output. B) changes in aggregate demand cannot reduce unemployment. C) changes in aggregate demand are highly inflationary. D) stabilization policies could increase aggregate demand too much and at the wrong times.
If there are 10 million people employed, 1 million unemployed, 500,000 discouraged workers, and 400,000 collecting unemployment insurance, there are _____ people in the labor force.
Fill in the blank(s) with the appropriate word(s).
The measure of final goods and services produced in the United States is the
A. Per capita GDP in the United States. B. Total sales of all goods during the year. C. GDP of the United States. D. Percentage change in the GDP of the United States.