Which of the following statements is correct?
A. The U.S. population has increased more rapidly than real GDP in recent decades.
B. Improved education and training of labor is the most important source of U.S. productivity growth.
C. The average American factory worker has about 16 years of formal education.
D. The amount of real capital used per worker has increased historically in the United States.
Answer: D. The amount of real capital used per worker has increased historically in the United States.
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The GDP price index is different from other price indexes because ________.
A. it includes transactions from both the formal economy and the underground economy B. it is based on a fixed market basket of goods C. it is the broadest measure of prices in the economy D. it includes both foreign produced goods and domestically produced goods
A strategy is called a pure strategy if it involves choosing ________
A) one particular action for a situation B) different combinations of actions for a situation C) an action that yields a higher payoff to the opponent D) an action that yields zero payoff to the player
The overall mortality rate in the United States has declined for the past 30 years
Indicate whether the statement is true or false
If opportunity costs are constant, the production possibilities frontier would be graphed as
A) a negatively sloped straight line. B) a ray from the origin. C) a positively sloped straight line. D) a negatively sloped curve bowed in toward the origin.