________ occurs when the price level of goods and services increases over several months.

The labor force of a country was 50 million last year. The labor-force participation rate was 4% last year, but it increased to 6% in the current year. This implies the labor force in the current year is _____

a. 70 million b. 75 million c. 100 million d. 35 million

According to the marginal productivity theory of resource demand, the labor-demand schedule for a producer selling in a purely competitive market is:

A.  The same as the marginal resource cost schedule B.  The same as the marginal productivity schedule C.  The same as the marginal revenue product schedule D.  Independent of the value of the product being produced