The formula q/L represents
A. the average product of labor.
B. the marginal product of labor.
C. the capital-to-labor ratio.
D. total product.
Answer: A
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Of the age groups given below, which has experienced the greatest decline in poverty rates in the U.S. since the mid-1960's?
a. Under 18 years old b. 18 to 64 years old c. 65 or more years old d. 40 to 64 years old
Which of the following trends is most likely the result of an expansionary monetary policy?
a. The demand for both costume jewelry and expensive jewelry rises. b. The demand for both economy cars and luxury cars drops. c. The demand for fast food drops, but the demand for gourmet food rises. d. The demand for cheap concert seats rises, but the demand for expensive seats drops.
The purchase of a share of stock is excluded in the calculation of Gross Domestic Product (GDP) because it
A. only represents the transfer of ownership rights. B. is an intermediate good. C. produces value added. D. is a final service and not a good.
Products can be differentiated
A. if the buyers are homogeneous and their number increases. B. only by brand name. C. by location and by brand name. D. none of these.