If we have information about workers' marginal products, then total and average product can be found by
A) summing the marginal values to find the total and multiplying it times the number of workers to get the average.
B) dividing marginal costs by the number of workers.
C) summing the marginal values to find the total and dividing it by the number of workers to get the average.
D) multiplying the average marginal product times the number of workers.
C
Economics
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Economic growth is generally measured as the percentage increase in a country's
A) real GDP. B) nominal GDP. C) annual employment rate. D) per-capita nominal GDP.
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A person who voluntarily quits his/her job in New York and expects to get a similar job in Los Angeles is an example of:
a. structural unemployment. b. cyclical unemployment. c. durational unemployment. d. frictional unemployment.
Economics