The Marginal Product of Labour Is the

question 43

Multiple Choice

The marginal product of labour is the

• A) maximum output attainable with fixed factors of production when labour is the only variable factor of production.
• B) change in output resulting from a one- unit increase in labour with all other inputs remaining the same.
• C) output level above which the rate of total product per unit of labour falls.
• D) output level above which the slope of the total product curve falls.

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Definitions:

Reconstruction Plan

Policies and programs implemented after the U.S. Civil War aimed at rebuilding the South and reintegrating Southern states into the Union.

Pre-Civil War Elite

The social, political, and economic upper class in American society before the outbreak of the Civil War, often associated with slave ownership and large plantations.

Tenure Of Office Act

1867 law that required the president to obtain Senate approval to remove any official whose appointment had also required Senate approval; President Andrew Johnson’s violation of the law by firing Secretary of War Edwin Stanton led to Johnson’s impeachment.