The law of diminishing returns applies to which of the following segments of the marginal product of labor curve?
a. The entire curve.
b. The downward-sloping segment only.
c. The upward sloping segment only.
d. The point where labor input is zero.
b
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Firms will hire additional workers as long as the wage:
A. is greater than the marginal product of labor. B. is less than the value of the marginal product of labor. C. equals the marginal product of labor. D. is less than the marginal product of labor.
Word-of-mouth recruitment practices can be quite beneficial to minority hiring
Indicate whether the statement is true or false
A decrease in the price level will _____
a. shift the consumption function upward b. shift the consumption function upward c. result in an upward movement along the consumption function d. result in a downward movement along the consumption function e. shift the consumption function downward
One In the News article titled "Perceptions of Government Failure" indicates that people think that the government is not very trustworthy when it comes to solving domestic issues. If this is true, this is an example of
A. The free-rider dilemma. B. The problem of externalities. C. Market failure. D. Government failure.