The amount of time that it takes to identify a national economic problem is
A) the effect time lag.
B) the action time lag.
C) the recognition time lag.
D) fiscal policy.
C
Economics
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As the quantity of labor increases, value of marginal product for a perfectly competitive firm
A) decreases because the firm must lower its price to sell a larger quantity. B) decreases because the marginal product of labor decreases. C) decreases because marginal revenue decreases. D) is constant because marginal revenue is constant.
Economics
The labor force is defined as
A) the sum of the employed and unemployed. B) the total number employed. C) the total number of working age individuals in the population. D) the sum of the number of employed, unemployed and discouraged individuals.
Economics