The value marginal product of a resource is
a. the marginal product of the resource multiplied by the price of the product it helps to produce.
b. the price of the product times the price of the resource.
c. larger when the product price is smaller.
d. larger when the marginal product is smaller.
A
Economics
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A negative supply shock in the short run causes
A) unemployment to fall. B) the aggregate supply curve to shift to the left. C) equilibrium real GDP to rise. D) the price level to fall.
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Which of the following is the best indicator of standard of living?
a. Nominal GDP b. Real GDP c. Real GDP per capita d. Productivity e. Productivity per unit of labor
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