The smaller the percentage of people who work, the higher the potential output per capita.
Answer the following statement true (T) or false (F)
False
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The marginal cost curve crosses the average total cost curve at the
a. highest level of average total cost. b. lowest level of average total cost. c. point where the ATC equals the AVC. d. point where the ATC equals the AFC.
Which of the following groups does not support the special interests of the elderly?
a. the elderly themselves b. the relatives of the elderly c. the housing industry d. doctors and nursing home operators e. those under 65 who are concerned about their future benefits
According to the rule of 70, a country will double its real GDP per capita in 10 years if it:
A. experiences a 7 percent growth rate in per-capita GDP. B. has inflation of 7 percent. C. has a population growth rate of 7 percent. D. None of these is true.
When a tax is placed on the buyers of a product, buyers pay
a. more and sellers receive more than they did before the tax. b. more and sellers receive less than they did before the tax. c. less and sellers receive more than they did before the tax. d. less and sellers receive less than they did before the tax.