The additional cost associated with the hiring of one more unit of labor is known as the
A) marginal physical product of labor.
B) marginal revenue product of labor.
C) marginal factor cost of labor.
D) marginal utility of labor.
C
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The Bureau of Labor Statistics produces data on unemployment based on the number of people collecting unemployment insurance
a. True b. False Indicate whether the statement is true or false
As of 2010, to be in the bottom quintile for income distribution in the United States, a family needed in income no more than
A. $15,000. B. $27,000. C. $23,000. D. $35,000.
A leftward shift of the supply curve will lead to an
A) increase in equilibrium price. B) excess supply at the old equilibrium price. C) increase in quantity supplied. D) All of the above.
A defined benefit pension program is one in which
A. everyone gets the same amount, regardless of how much they work. B. the plan defines eligibility for retirement and benefits according to a set of rules and a formula. C. those in the plan, as well as their employer, contribute to an account according to a formula, and the investment of that account is under the control of the employee. D. benefits are untaxed.