The formula for the marginal revenue product of labour (L is for labour, X is the product) is ?

Related Mcqs:

Because in-kind transfers are not accounted for in standard measures of income distribution the standard measures of income distribution ?

A. accurately represent the true inequality of living standards B. understate the inequality of living standards C. exaggerate the inequality of living standards D. could exaggerate of understate the inequality of living standards depending on whether the transfers are goods or services....

If the income effect is smaller than the substitution effect, higher net wages will ?

A. reduce the supply of labour. B. increase the demand for labour C. increase the supply of labour D. have no effect on the supply of labour...

Permanent income is ?

A. Social Security income of the elderly and disabled B. none of these answers C. wages fixed by a union or other labour contract D. equal to the minimum wage E. a person’s normal or average income...

Mariam earns more than Seamus and she came by her income fairly and honestly which of the following political philosophies would argue against the redistribution of income from Mariam to Seamus ?

A. all of these answers B. libertarianism C. utilitarianism D. none of these answers...

A Gini coefficient of zero means that the ?

A. the income is split equally between the top 20% and the rest of the distribution B. one person has all the income and every one else has nothing C. all the income is received by the top 20% of the income distribution D. income is equally distributed...