Which of the following is NOT a determinant of an individual's marginal product?
A. talent
B. educational level
C. experience
D. money income
Answer: D
You might also like to view...
Answer the following statement(s) true (T) or false (F)
1. A doubling of all prices has the same effect on the budget line as reducing income by half. 2. If the consumer's income doubles, then his optimal purchases of all goods will double. 3. If the consumer's income and all prices simultaneously triple, then his optimum will not change. 4. The slope of the budget line always equals the consumer's marginal value. 5. The budget line illustrates the consumer's opportunities and the indifference curve illustrates the consumer's preference.
One would speak of a movement along a supply curve for a good, rather than a change in supply, if
A) prices of substitutes in production change. B) supplier expectations about future prices change. C) the price of the good changes. D) the cost of producing the good changes.
The evidence shows that both the U.S. steel and auto industries seem to have lost their vigor for growth and competitive edges in the global marketplace
Indicate whether the statement is true or false
Many economists argue that the most efficient way to control pollution is to
a. ban all activities that create pollution. b. enforce legal standards on air and water quality. c. promote environmental awareness among citizens. d. impose taxes on emissions.