The additional revenue a firm obtains from employing one more unit of capital is called the
a. marginal revenue product of capital
b. total product of capital
c. marginal product of capital
d. production function
e. marginal product of labor
A
You might also like to view...
Federal government expenditures, as a percentage of GDP
A) rose from 1950 to 1991, fell from 1992 to 2001, and have risen from 2001 to the present. B) rose from 1950 to 1980, fell from 1981 to 2001, and have risen from 2001 to the present. C) have fallen since the early 1950s to the present. D) have risen since the early 1950s to the present. E) rose from 1950 to 2001 and then fell from 2001 to the present.
The law of demand shows that:
a. there is an inverse relationship between price and quantity demanded. b. the demand curve is positively sloped. c. when the price of a good increases, the quantity demanded increases. d. the supply curve is vertical. e. individual demand is the same as market demand.
The price-consumption curve: a. connects the various combinations of two goods as a consumer's income changes
b. connects the various combinations of two goods as the relative price of one good changes. c. shows the quantity of a good consumed as a function on income. d. All of the above are correct statements.
The transmission mechanism alters the real gross domestic product through changes in the price level
a. True b. False Indicate whether the statement is true or false