What is the marginal product of labor and what is the average product of labor
What will be an ideal response?
The marginal product of labor is the additional output a firm produces as a result of hiring one more worker. The average product of labor is the total output produced by a firm divided by the quantity of workers. The average product of labor is the average of the marginal products of labor.
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The largest single portion of state and local budgets is devoted to
A. state and local defense. B. health and public welfare programs. C. state and local unemployment compensation. D. education. E. interest payments on state and local debt.
Which of the following is the most important source of revenue for the federal budget?
A. The corporate income tax. B. Social Security and unemployment taxes. C. The federal personal income tax. D. Sales tax.
Markup pricing is the same as
A) internet pricing. B) cost plus pricing. C) peak-load pricing. D) price discrimination.
Which of the following is an example of an expansionary monetary policy?
What will be an ideal response?