The additional cost associated with the hiring of one more unit of labor is known as the
A. marginal revenue product of labor.
B. marginal factor cost of labor.
C. marginal utility of labor.
D. marginal physical product of labor.
Answer: B
Economics
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One possible reason the U.S. income distribution has become more unequal is
A) information technology has decreased the demand for unskilled labor. B) information technology has increased the demand for unskilled labor. C) information technology has increased the supply of unskilled labor. D) information technology has decreased the supply of unskilled labor.
Economics
The U.S. government suspended the convertibility of the dollar into gold in
A) the 1930s. B) the 1950s. C) the 1970s. D) 1991, when the first Gulf War broke out.
Economics