Which Statement Is True

question 21

Multiple Choice

Which statement is true?

• A)Productivity is input per unit of output.
• B)The MRP curve for the perfect competitor is steeper than the MRP curve for the imperfect competitor.
• C)The firm will hire workers until the wage rate and the Marginal Physical Product (MPP)of the last worker hired are equal.
• D)Relative to the U.S.economy,the Chinese economy is more labor intensive and less capital intensive.

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Definitions:

Nation

A large group of people united by common descent, history, culture, or language, inhabiting a particular country or territory.

Total Employment

The total number of people employed in an economy at a given time, including both full-time and part-time workers.

Absolute Number

A value expressed without comparisons, adjustments, or relations, representing a distinct, precise figure.

Farm Employment

Farm employment refers to the work and jobs related to agriculture, including the cultivation of crops and livestock management.