A Curve That Relates an Economy's Total Output to the Total

question 115

Multiple Choice

A curve that relates an economy's total output to the total amount of labor employed, holding all other determinants of output constant, is called

• A) an input-output matrix.
• B) an average output function.
• C) a marginal product function.
• D) an aggregate production function.

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Definitions:

Ripeness

A legal principle that courts use to determine if a case has matured into a controversy worthy of adjudication.

Fourth Branch

A term sometimes used to refer to groups that influence government outside of the officially recognized branches, such as the media or public opinion.

Constitutional Guarantees

Rights and protections afforded to individuals by a constitution, which the government is obliged to respect and uphold.

Consent Order

A legal document in which parties agree to terms without going to trial, often approved and enforced by a court.