Average labor productivity equals:
A. average production per year.
B. output per person.
C. total output.
D. output per employed worker.
Answer: D
You might also like to view...
Microeconomics is the study of
a. government decisions b. the federal government's budget c. the economic behavior of entire nations d. the economic behavior of individual decision makers e. the overall economy
Suppose a monopolist's demand curve is P = 60 - Q, its cost function is TC = 10Q + 50, and its marginal cost is 10. If a governmental agency wished to set the price that maximized social welfare, that price would be
A) $10.00. B) $11.02. C) $14.57. D) $35.00.
When the price of fresh fish increases 10%, quantity demanded is unchanged. The price elasticity of demand for fresh fish is
A. perfectly inelastic. B. inelastic. C. unitary elastic. D. elastic.
Answer the question on the basis of the following four tax schedules for the given base of taxable income. Which of the above tax schedules is a regressive tax schedule throughout?
A. A
B. B
C. C
D. None of the schedules