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- Subject
- Income Inequalityeconomics-mcqs › income-inequality
- Published
- 1 Jun 2019
- Last updated
- 28 May 2026
Explanation
Option D states that the marginal revenue product of labor is the additional revenue a firm receives from selling one unit of labor, which correctly defines its meaning. Other options confuse labor with capital or profit rather than revenue.
More Income Inequality MCQs
Practice related questions from the same subject.
- 1.Which of the following best describes the Benazir Benefit Income Scheme?
- 2.Which category of tax does VAT best represent?
- 3.When a tax can be transferred, what determines the actual burden of the tax?
- 4.What does tax incidence refer to?
- 5.What does a progressive income tax system imply about the tax rate for individuals with higher earnings?
- 6.What does the marginal tax rate represent?
- 7.What principle does vertical equity represent in taxation?
- 8.What does a Gini coefficient of zero indicate?
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