Diminishing marginal productivity can occur due to the following reason(s)
a. the difficulty of monitoring and motivating larger workforces
b. the increasing complexity of larger systems
c. the "fixity" or permanence of some factor of production
d. all of the above
d
You might also like to view...
The curve showing the short-run relationship between the ________ and the ________ is called the Phillips curve
A) unemployment rate; inflation rate B) exchange rate; real interest rate C) price level; real GDP D) nominal interest rate; real interest rate
The short-run aggregate supply curve shows that inflation will change as a result of changes in ________
A) output B) potential output C) expected inflation D) price shocks E) all of the above
Insurance companies:
A. profit from the difference between the premiums paid and the expected value of clients' payouts. B. only profit by selling to risk neutral clients. C. must charge less than the expected value of payout, otherwise they would go out of business. D. All of these statements are true.
Jackson is considering two different jobs, and is indifferent to both of them although one pays $20 per hour and the other pays $25 per hour. This must mean that
a. the higher-paying job must be more dangerous than the lower-paying job b. the higher-paying job enjoys a compensating wage differential of $5 per hour c. Jackson doesn't really need the money d. the lower-paying job enjoys a compensating wage differential of $5 per hour e. the higher-paying job enjoys a compensating wage differential of $20 per hour