The Marginal Product of Labour Is the Increase in Output

question 96

True/False

The marginal product of labour is the increase in output as a result of hiring an additional worker while the marginal revenue product of labour is the increase in profit as a result of hiring an additional worker.

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Definitions:

German-American

denotes Americans of German descent, who represent one of the largest ethnic groups in the United States, known for their significant cultural contributions and historical presence.

Political Activism

The practice of taking vigorous action, often in support of or opposition to one side of a controversial issue.

Fourteen Points

President Woodrow Wilson’s 1918 plan for peace after World War I; at the Versailles peace conference, however, he failed to incorporate all of the points into the treaty.

Self-Determination

The principle that peoples have the right to freely choose their sovereignty and international political status with no interference.