We assume that when a firm hires additional workers, the marginal physical product of labor will
A) increase because more workers can always get more work done.
B) decrease because the new workers are likely to be less able than the previously hired ones.
C) decrease because each worker now has less capital and other resources to work with.
D) increase because large firms are more efficient.
C
Economics
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If the value of a dollar rises in terms of yen, the dollar has ________ and the yen has ________
A) appreciated; appreciated B) appreciated; depreciated C) depreciated; appreciated D) depreciated; depreciated
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Define the following terms and explain their importance in the study of macroeconomics:
a. consumer expenditures b. investment spending c. national income d. transfer payments
Economics