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C13 Microeconomics Online Exams 1-8 Answers (Ashworth College)

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quintile.<br />

B. Shares of income decrease as we move from the lowest quintile to the highest quintile.<br />

C. Shares of income increase as we move from the lowest quintile to the highest quintile.<br />

D. none of the above<br />

Question 30 of<br />

2.5/ 2.5 Points<br />

40<br />

The marginal product of labor is the __________ .<br />

A. change in labor necessary to produce an additional unit of output<br />

B. cost of additional labor necessary to produce an additional unit of<br />

output<br />

C. change in output resulting from adding an additional unit of labor<br />

D. change in revenue resulting from adding an additional unit of labor<br />

Question 31 of<br />

2.5/ 2.5 Points<br />

40<br />

The change in the quantity of labor demanded resulting from a change in the quantity produced<br />

of the product is known as the __________ effect.<br />

A. inputsubstitution<br />

B. price elasticity<br />

C. output<br />

D. derived demand<br />

Question 32 of<br />

2.5/ 2.5 Points<br />

40<br />

Which of the following is the most important reason for growing inequality in the income<br />

distribution in the United States?

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