According to this Application, one explanation for the decline in the U.S. labor force participation rate since 1999 is
A) the increase in immigration to the United States.
B) the increase in outsourcing by U.S. companies.
C) the decline in the overall population.
D) the increasing number of retiring baby boomers.
D
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The marginal product of labor equals the change in ________ from a one-unit increase in the quantity of labor
A) total product B) average product C) total cost D) the slope of the average product curve E) the wage rate
The price of coffee increases. Which of the following is NOT part of the likely chain of events that follows from this price change?
A) Some coffee consumers reduce their consumption of coffee. B) Coffee producers increase their production of coffee. C) The producers of coffee beans increase production. D) The manufacturers of coffee machines lay off some workers.