Which of the Following Statements Is Most Likely Applicable to Country

question 28

Multiple Choice

Which of the following statements is most likely applicable to Country B?

• A)local and national legislatures pass laws
• B)ethics and morality are the underlying tenets
• C)an all-inclusive system of law that has been codified
• D)detailed contracts that clearly state all potential contingencies

---

Definitions:

Marginal Product

The additional output that is produced as a result of employing one more unit of a particular input, keeping other inputs constant.

Labor Demand Data

Information that represents the number of workers that firms are willing and able to hire at various wage levels.

Labor Supply Data

Information and statistics related to the availability of workers and their willingness to work at various wage rates.

Marginal Product

The change in output resulting from employing an additional unit of input, while keeping other inputs constant, highlighting the productivity of the input.