Multiple Choice
The fact that the production function relating output to labor becomes flatter as we move from left to right means that
A) the marginal product of labor is positive.
B) the marginal product of capital is positive.
C) there is diminishing marginal productivity of labor.
D) there is diminishing marginal productivity of capital.
Correct Answer:
Verified
Correct Answer:
Verified
Q47: Okun's law relates _ to _.<br>A)inflation; unemployment<br>B)inflation;
Q48: Cyclical unemployment is caused by<br>A)people entering the
Q49: State the growth rate form of Okun's
Q50: The _ is the number of unemployed
Q51: Suppose the economy's production function is Y
Q53: Suppose the natural rate of unemployment is
Q54: Frictional unemployment arises when<br>A)unskilled or low-skilled workers
Q55: Suppose oil prices fall temporarily,as oil becomes
Q56: The marginal product of capital is the
Q57: The equilibrium level of employment,achieved after the