People Who Are Working Up to 34 Hours Per Week

question 125

Multiple Choice

People who are working up to 34 hours per week but would like to work more are considered

• A)involuntary part-time workers.
• B)discouraged workers.
• C)job leavers.
• D)job seekers.
• E)unemployed.

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Definitions:

Real Wage

The amount of goods and services a worker can purchase with his or her nominal wage; the purchasing power of the nominal wage.

Marginal Revenue Product

The additional revenue generated from employing one more unit of a resource, such as labor or capital.

Total Revenue

is the overall amount of money generated by a business from its activities, including sales of goods or services, before any expenses are deducted.

Labor

Any mental or physical exertion on the part of a human being that is used in the production of a good or service. One of the four economic resources.