Economic growth can be defined as the increase in ____ ______ real? GDP, measured by its rate of change per year.
Fill in the blank(s) with the appropriate word(s).
per capita
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In the above figure, in order for this country to move from production possibilities frontier PPF1 to PPF2, it might
A) increase the skills and productivity of its work force. B) put all unemployed resources to work producing desired output. C) engage in exchange with other nations. D) increase the average level of prices for all goods produced and consumed.
Economic profit is defined as
a. total revenue minus implicit costs b. total revenue plus explicit costs c. total revenue plus implicit costs d. wages plus interest minus rent e. total revenue minus implicit and explicit costs
In general, the accounting of trade in goods and capital is known as the:
A. balance of trade. B. net capital outflow. C. balance of payments. D. trade surplus.
School Board Voters' Ordered PreferencesDavidErnieFionaNew gymNew libraryNew computer labNew libraryNew computer labNew gymNew computer labNew gymNew libraryIf a first-past-the-post vote was taken by the school board on which project gets funded and the voters' preferences are shown in the table, which project is most likely to win?
A. Computer lab B. Gym C. Library D. It will result in a three-way tie.