Marginal revenue product is defined as the
a. change in total output that results from the employment of an additional unit of a resource
b. change in total product that results from the employment of an additional unit of a resource
c. change in total revenue that results from the employment of an additional unit of a resource
d. change in resource employment that results from a change in total output
e. change in marginal revenue that results from a change in the employment of an additional unit of a resource
C
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If the labor force participation rate is rising and the working-age population is not changing, then the
A) size of the labor force is rising. B) number of unemployed people is rising and the size of the labor force is falling. C) size of the labor force is falling. D) number of unemployed people is falling and the size of the labor force is rising.
To restrict a wilderness area in the public domain to a particular group in the general public, say the motorists or snowmobilers of today, is
(a) democratic. (b) consistent with Thomas Jefferson's view on federal ownership of land. (c) undemocratic. (d) non-discriminatory.