The Slope of a Ray from the Origin to the Total

question 25

Multiple Choice

The slope of a ray from the origin to the total product curve measures _____.

• A)the marginal rate of technical substitution
• B)the marginal product of the variable factor
• C)the average product of the variable factor
• D)the maximum output

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Definitions:

Macroeconomist

An economist who specializes in macroeconomics, studying aggregated indicators and the behavior of the economy as a whole, including inflation, unemployment, and economic growth.

Normative Statement

A statement that reflects an opinion, value judgment, or what ought to be, rather than what is empirically verifiable.

Positive Statement

An objective statement based on facts that can be tested and validated, used in contrast to normative statements which express opinions or what ought to be.

Normative Statements

Statements that express opinions, desires, or judgments about what should be, and do not make factual or objective claims.