Factors that shift the AD Curve include ________
A) the inflation rate
B) aggregate output
C) taxes
D) all of the above
E) none of the above
C
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As output increases, average total cost decreases
A) constantly. B) as the average product of labor decreases. C) initially and then starts to increase. D) in the long run and the short run. E) as long as average fixed cost decreases.
The average output produced per worker is one way of measuring
A) inflation. B) the interest rate. C) employment. D) productivity.
The marginal revenue product of labor equals
a. MP/wage b. change in total revenue/change in units of labor c. change in total revenue times the change in units of labor d. P/MP e. MP ? wage
Human capital includes the machinery, equipment, and other manufactured creations used to produce goods and services
a. True b. False Indicate whether the statement is true or false