The formula ?q/?L represents
A. the marginal product of labor.
B. the average product of labor.
C. total product.
D. the capital-to-labor ratio.
Answer: A
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Which function of money allows people to specialize in areas in which they have a comparative advantage?
A) medium of exchange B) unit of accounting C) store of value D) standard of deferred payment
Which legal claim comes with voting rights?
A. common stock B. preferred stock C. bond D. debt
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point A necessarily represents
A. only hybrid cars being produced. B. an unattainable production point. C. what society wants. D. the economy's optimal production point.
What is a market? Must a market have a single physical location?
What will be an ideal response?