Average product of labor is equal to ________
A) total product multiplied by the quantity of labor employed.
B) the total product produced
C) the quantity of labor employed divided by total product
D) total product divided by the quantity of labor employed
D
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The majority of federal government spending on income transfers would be classified as welfare
Indicate whether the statement is true or false
Under present U.S. law, cocaine is an example of
A) a government-sponsored good. B) a capital good. C) a public good. D) a government-inhibited good.
When a bank loans out $1,000, the money supply
A. increases. B. decreases. C. does not change. D. None of the above is correct.
When the value of money is on the vertical axis, the money supply curve is vertical and shifts right if the Federal Reserve buys bonds
a. True b. False Indicate whether the statement is true or false