If we assume that labor is the only variable input, the slope of the short-run ________ curve measures the marginal product of labor.
A. total cost
B. average product
C. marginal product
D. total product
Answer: D
You might also like to view...
If technological change is "labor augmenting," then
A) output per worker declines, output per unit of capital increases. B) "effective labor input" increases, output per unit of capital declines. C) output per worker increases, output per unit of capital is constant. D) Both output per worker and output per unit of capital change.
If Ep is 3500 and Y is 3000, then companies will
A) reduce orders and production by 500. B) increase orders and production by 500. C) wait for final sales to increase but continue to produce at existing level in the future. D) wait for final sales to decrease but reduce the level of production in the future.
The process of deciding on and passing fiscal policy legislation creates:
A. an information lag. B. a formulation lag. C. an implementation lag. D. a direction lag.
The present value of a payment of $500 to be made two years from today is greater if the interest rate is 7% than if it is 6%
a. True b. False Indicate whether the statement is true or false