The Marginal Product of Capital Is the

question 64

Multiple Choice

The marginal product of capital is the

• A)change in total product resulting from a 1-unit increase in the quantity of labour employed,holding the quantity of the capital constant.
• B)change in total product resulting from a 1-unit increase in the quantity of capital employed,holding the quantity of the labour constant.
• C)total product divided by the total quantity of capital employed,holding the quantity of the labour constant.
• D)total product divided by the total quantity of labour employed,holding the quantity of the capital constant.
• E)change in the quantity of capital used resulting from a 1-unit increase in total product,holding constant the quantity of labour.

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Definitions:

Employee Retirement Income Security Act (ERISA)

A federal law that sets minimum standards for most voluntarily established pension and health plans in private industry to provide protection for individuals in these plans.

Mandated Benefit

Benefits that employers are required by law to provide to their employees, such as social security, unemployment, and workers' compensation.

Workers' Compensation

An insurance type that offers medical benefits and compensates for lost wages to workers hurt while performing their job duties.

Nonmandated Benefits

Refer to additional perks or compensations provided by employers that are not legally required, such as retirement plans, health insurance beyond the legal minimum, and paid vacation.