A decrease in the marginal product of labor would be represented by a(n):
a. increase in labor demand.
b. decrease in labor demand.
c. increase in the quantity demanded of labor.
d. decrease in the quantity demanded of labor.
e. increase in wages.
Question 2
When government purchases increase, the spending multiplier indicates the _____.
a. amount of movement along the aggregate demand curve
b. amount of movement along the aggregate supply curve
c. size of the rightward shift of the aggregate demand curve at a given price level
d. size of the rightward shift of the aggregate supply curve at a given price level
e. size of the expansionary gap
China’s 8% annual increase in oil consumption
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Find the derivative using the product rule