A point on the per-worker production function shows:
a. the total output produced by the labor force of an industry on the vertical axis for each level of capital per worker on the horizontal axis.
b. the marginal output per worker on the vertical axis for each level of worker per unit of capital on the horizontal axis.
c. the marginal output per worker on the vertical axis for each level of capital per worker on the horizontal axis.
d. the level of capital per worker on the vertical axis for respective average output per worker on the horizontal axis.
e. the average output per worker on the vertical axis for each level of capital per worker on the horizontal axis.
Question 2
When silver and gold were used as money, both their quantity and quality were open to question. The solution was _____.
a. seashells
b. seigniorage
c. token money
d. coinage
e. fiat money
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