Total physical product shows what happens to the quantity of an output when the firm changes the quantity of an input
a. True
b. False
Indicate whether the statement is true or false
True
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The procedure of determining the present value of payments to be received in the future is known as
a. compounding b. amortizing c. perpetuating d. nominalizing e. discounting
Which of the following is an instance of employer prejudice that leads to wage differential?
a. Employers attempting to hire workers based on their marginal productivities b. Employers attempting to hire only male workers c. Workers attempting to work for only certain organizations d. Producers purchasing raw materials from selective suppliers e. Workers ready to work for any employer in the labor market
Labor productivity growth in the United States during the 1973–1995 period could be explained by a ____ slowdown.
A. labor force B. capital formation C. technological D. population growth
The price of labor per unit times the amount of labor used is called
A. labor input. B. labor cost. C. marginal labor. D. marginal cost.