The Largest Group of Macroeconomic Players That Chooses Whether or Not

question 27

Multiple Choice

The largest group of macroeconomic players that chooses whether or not to hire Canadian workers is

• A) businesses.
• B) government.
• C) the Bank of Canada and banking system.
• D) consumers.
• E) the rest of the world.

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Definitions:

Economies of Scope

Cost advantages that enterprises obtain due to a broader scope of operations, often through producing a variety of products rather than specializing in just one.

Marginal Products

The extra output obtained by utilizing an additional unit of a specific input while keeping all other inputs unchanged.

Capital-labor Ratio

The ratio of capital (equipment, buildings, etc.) to labor (workforce) in an economic analysis or production process.

Annual Output

The total production or output of a good or service in a year.