Increases in the productivity of labor result partly from
A. increases in the quantity of labor.
B. improvements in technology.
C. the law of diminishing returns.
D. reductions in wage rates.
Answer: B
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Which of the following policy tools did the Fed create in 2008 to address the financial crisis?
i) quantitative easing ii) credit easing iii) open market operations A) ii only B) i and ii C) i and iii D) i only E) ii and iii
As more people in a developing country started using debit cards, banks installed more ATM machines, thereby benefitting all customers. This is an example of a(n) ________
A) network externality B) pecuniary externality C) adverse selection D) moral hazard
The________point is the total output or total product the business needs to sell in order to cover its total costs.
Fill in the blank(s) with the appropriate word(s).
Which of the following best exemplifies negative marginal product?
a. Hugo’s Pet Supply has so many dog groomers on staff that most days some of them have nothing to do. b. Each new supermarket WRV Foods opens in Springfield is a little less successful than the last. c. Duke’s Auto Sales has had to turn away potential customers because all of its salespeople are busy. d. Tri-Cities Paving has four fully-staffed cement mixers working at full capacity.