The gross domestic product (GDP) of an economy for a particular year is likely to increase if _____.
a. workers go on longer vacations during that year
b. the length of an average work week decreases
c. homeowners hire lawn care services rather than maintaining the lawns themselves
d. people cook food at home instead of buying restaurant meals
e. the sale of illegal drugs increases
Question 2
A monopsonist hires the amount of labor where the marginal revenue product of labor equals the:
a. price of the monopsonist's product.
b. wage rate.
c. marginal factor cost of labor.
d. marginal product of labor.
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