Economic growth refers to an increase in:
A) tax rates. B) prices. C) GDP per capita. D) population.
C
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What age group in the United States has the largest percentage of its members living in poverty?
(A) Children (B) The middle aged (C) The elderly (D) Young adults
As a whole, nations are better off after trade and specialization because:
A. nations can consume along their consumption possibilities curve, which is outside of their production possibilities curve. B. nations can consume along their consumption possibilities curve, which is inside of their production possibilities curve. C. nations can consume along their production possibilities curve, which is outside of their consumption possibilities curve. D. nations experience an inward shift of their production possibilities curve.
Which of the following statements about education and the unemployment rate is true?
A. People with more education tend to have higher unemployment rates. B. The unemployment rate tends to be higher for people with less education. C. As the unemployment rate rises, the number of people getting college degrees falls.. D. Unemployment rates are virtually the same for groups with different education levels.
Total product divided by the variable input is
A. average total cost. B. average product. C. marginal cost. D. marginal product.