-Under Which of the Following Sets of Circumstances Is It

question 191

Multiple Choice

-Under which of the following sets of circumstances is it definitely the case that the average product increases as more labor is hired?

• A) Total product increases as more labor is hired.
• B) The marginal product is equal to the average product.
• C) The marginal product is positive.
• D) The marginal product is greater than the average product.
• E) The marginal product is less than the average product.

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Definitions:

Money Supply

The complete tally of economic assets in an economy at a designated moment, such as cash, coins, and money in checking and savings accounts.

Net Exports

The value of a country's total exports minus the value of its total imports. It is a component of GDP that indicates a country's trade balance.

Money Supply

The sum of all financial assets in an economy at a specific time.

Interest Rates

The cost of borrowing money or the return for investing, usually expressed as a percentage per annum.