The marginal product of labour is:
A) how much output rises for when labour increases one unit.
B) capital divided by labuor (K/L) .
C) labour divided by capital (L/K)
D) the level of technology.
Correct Answer:
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Q6: Real saving equals gross investment.
Q7: If A in the production function Y
Q8: In the production function Y = A
Q9: Diminishing returns to labour implies that eventually
Q10: World growth data reveals that from 1960
Q12: World growth data shows that from 1960
Q13: World growth data reveals that from 1960
Q14: For the production function Y = A
Q15: The US and other OECD countries had
Q16: Diminishing marginal product of capital (MPK) means:
A)output
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