The additional cost associated with the hiring of one more unit of labor is known as the
A. marginal revenue product of labor.
B. marginal factor cost of labor.
C. marginal utility of labor.
D. marginal physical product of labor.
Answer: B
You might also like to view...
When an individual or firm in the United States requests that a bank sell foreign exchange, the bank will probably
A) call a foreign bank and arrange a purchase. B) call the central bank and arrange a purchase. C) call another bank customer with foreign exchange holdings. D) call another domestic bank and arrange a purchase. E) call a foreign exchange broker and arrange a purchase.
A legal claim entitling the owner of the claim to fixed annual payments and a lump-sum payment is called a(n)
A) equity share. B) bond. C) stock. D) debit.
If policymakers decrease aggregate demand, then in the long run
a. prices will be lower and unemployment will be higher. b. prices will be lower and unemployment will be unchanged. c. prices and unemployment will be unchanged. d. None of the above is correct.
Who does not gain when a tariff is imposed?
A. Domestic producers of the good. B. Domestic workers in the protected industry. C. Domestic consumers of the good. D. Domestic suppliers in the protected industry.