The Additional Benefit of Increasing Some Activity by One-Unit Is

question 160

Multiple Choice

The additional benefit of increasing some activity by one-unit is called the

• A) marginal benefit.
• B) opportunity cost.
• C) total benefit.
• D) scarcity.
• E) sunk benefit.

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Definitions:

President

The elected head of a republican state or the chief executive officer in certain other organizations, responsible for implementing and enforcing laws and policies.

Unemployed

Refers to individuals who are without a job but are available for and seeking employment.

Labor Force

The total number of people who are eligible and able to work, including both the employed and those seeking employment.

Discouraged Workers

People without jobs who have given up looking for work.