Laws that assign owners the rights to use assets as they see fit are called
a. human rights.
b. economic rights.
c. property rights.
d. government rights.
c
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The division of labor and specialization explain
A) why, when the marginal product of labor increases, so does the average product of labor. B) why the average product of labor falls when firms use more capital or change the layout of their businesses. C) why the marginal product of labor rises as a firm hires its first units of labor. D) why firms may find it profitable to use more workers when the marginal product of labor is negative.
Which of the following unemployment rates can be negative?
A) the official unemployment rate reported by the Bureau of Labor Statistics B) the natural unemployment rate C) the cyclical unemployment rate D) the seasonal unemployment rate