The Additional Cost Incurred as a Result of Hiring an Additional

question 57

Multiple Choice

The additional cost incurred as a result of hiring an additional worker is the firm's

• A)Total cost of labor
• B)Marginal cost of labor
• C)Average cost of labor
• D)Labor cost
• E)Human capital cost of labor

---

Definitions:

Gross Domestic Product

A measure of the economic performance of a country, reflecting the market value of all final goods and services produced within a country's borders in a given period.

Corporate Bond

A debt security issued by a corporation to raise capital from investors, promising to pay back the principal amount with interest.

Stock

A type of financial security that represents a proportion of ownership in a corporation, giving the holder a claim to part of the company's profits and assets.

NDP

Net Domestic Product, a measure of a country's economic output that accounts for depreciation. It represents the total value of all goods and services produced within a country's borders minus the depreciation of its capital goods.