The one feature of capital that makes it unlike most inputs is that it is
a. durable.
b. productive.
c. an economic good.
d. used to produce only consumer goods.
a
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The marginal physical product of labor is defined as
a. a firm's total output divided by total labor input. b. the extra output produced by employing one more unit of labor while allowing other inputs to vary. c. the extra output produced by employing one more unit of labor while holding other inputs constant. d. the extra output produced by employing one more unit of capital while holding labor input constant.
A firm will employ an additional unit of labor as long as the employment of labor adds more to the firm's revenue than it does to the firm's:
a. product price. b. accounting profit. c. residual claim. d. cost.
Which organization has the goal of helping to provide capital and investment assistance to less-developed nations?
a. The World Trade Organization b. The International Development Fund c. The European Union d. The International Monetary Fund e. NATO
Oil shocks, the shift from manufacturing to service jobs, and the use of new technologies are reasons for _____ unemployment.
Fill in the blank(s) with the appropriate word(s).