​Marginal Productivity Is

question 36

Multiple Choice

​Marginal productivity is

• A)​The total output associated with total inputs
• B)The total output associated with extra inputs
• C)The extra output associated with total inputs
• D)​The extra output associated with extra inputs

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Definitions:

Aggregate Supply

The cumulative supply of products and services planned for sale by firms in an economy within a specific time period.

Cyclical Unemployment

Unemployment caused by a downturn in the economic cycle, such as a recession, which reduces the demand for goods and services.

Structural Unemployment

Unemployment caused by a mismatch between workers' skills and the requirements of available jobs, often due to technological or economic changes.

Frictional Unemployment

The short-term unemployment that arises from the process of matching workers with jobs, often due to workers changing jobs or entering the workforce.