The marginal product of labor (MPL) measures ________
A) by how much labor increases for each additional unit of output
B) by how much labor increases for each additional unit of capital
C) by how much total factor productivity increases for each additional unit of labor
D) by how much labor increases for each additional unit of productivity
E) by how much output increases for each additional unit of labor
E
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The personal income tax excludes the imputed rent from owner-occupied housing from taxation.
A. True B. False C. Uncertain
Price leadership represents a situation where oligopolistic firms:
A. conspire to form a cartel. B. informally collude. C. face a kinked-demand curve. D. reduce their reliance on nonprice competition.
"Inside information" is the use of information
A. by those who write the companies' annual reports. B. that is not available to the public. C. by stockbrokers at the largest brokerage firms. D. by those who read the companies' annual reports.
If the consumer price index falls from 120 to 116 in a particular year, the economy has experienced:
A. inflation of 4 percent. B. inflation of 3.33 percent. C. deflation of 3.33 percent. D. deflation of 4 percent.