According to the substitution effect along an indifference curve, when the relative price of a good falls, the consumer ________ substitutes ________ of that good for the other good

The marginal factor cost is the

A) additional revenue obtained from a one-unit change in labor input. B) additional revenue obtained from a one-unit change in output. C) change in output resulting from the addition of one more worker. D) cost of using an additional unit of an input.

Which of the following variables are included in the index of leading indicators?

a. new orders placed with manufacturers, length of average workweek, permits for new housing starts b. changes in the M1 money supply, number of new credit cards, political stance of current politicians c. average worker salary, average number of children per family, current standard of living d. labor-force participation rate, household debt as a share of disposable income, the real interest rate