Number of workersUnits of output0012525539541255150Table 8.2Refer to Table 8.2, which gives a firm's production function. Assume that all non-labor inputs are fixed. Diminishing returns set in with the addition of the:

A. third worker.
B. fourth worker.
C. fifth worker.
D. sixth worker.

Answer: B

Economics

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Economic growth refers to an increase in:

A) tax rates. B) prices. C) GDP per capita. D) population.

Economics

A major difference between social insurance and public assistance is that the:

A. former is regarded as an earned right while the latter is public charity. B. latter is regarded as an earned right while the former is public charity. C. latter is financed through earmarked payroll taxes and the former is financed by general tax revenues. D. former are state and local programs while the latter are federal programs.

Economics