Which of the following statements is correct?
i. As the economy grows, the opportunity costs of economic growth decrease.
ii. Economic growth has no opportunity cost.
iii. The opportunity cost of economic growth is current consumption forgone.
A) i only
B) ii only
C) iii only
D) i and iii
E) i and ii
C
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If a firm's marginal cost exceeds its marginal revenue, then
a. the firm's profit is negative (i.e., the firm is suffering losses). b. the firm should shut down its operations. c. cutting back production will increase the firm's profit. d. the firm should reduce its per-unit cost by increasing its output.
What important changes have occurred in the composition of the labor force since 1960? Is the popular image of the American worker as a factory worker accurate? Describe the types of jobs Americans are working in today.
What will be an ideal response?
According to the per se rule, activities that were potentially monopolizing tactics were illegal
a. True b. False Indicate whether the statement is true or false
When household debt as a share of income is abnormally high,
a. rapid growth of consumption is likely to lead the recovery. b. the growth prospects of the economy will be excellent because high household debt is the key to a strong economy. c. the growth of consumption is likely to remain sluggish even as the economy begins to recover. d. consumers will be in a strong position to deal with irregular expenses.