Which of the following affects the marginal physical product of labor?
a. a worker's abilities and degree of work effort
b. the amount of capital available per worker
c. the technical know-how of the management of the firm
d. all of the above
d
Economics
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The velocity of money can best be described as
A) how quickly prices are increasing. B) how quickly output is increasing. C) the number of times each dollar in the money supply is used to buy goods and services included in GDP. D) the growth rate of the money supply.
Economics
Of the theories listed below, which do the best job of explaining why educated people are paid more than uneducated people?
a. human-capital and price-fixing b. human-capital and signaling c. wage-differential and signaling d. wage-differential and compensating-differentials
Economics