Country A has a population of 1,000, of whom 800 work 8 hours a day to make 128,000 final goods. Country B has a population of 2,000, of whom 1,800 work 6 hours a day to make 270,000 final goods
a. Country A has higher productivity and higher real GDP per person than country B.
b. Country A has lower productivity and lower real GDP per person than country B.
c. Country A has higher productivity, but lower real GDP per person than country B.
d. Country B has lower productivity, but higher real GDP per person than country B.
b
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Refer to Table 1-2. Using marginal analysis, by how many hours should Thuy Anh extend her flower shop's hours of operations?
A) 2 hours B) 3 hours C) 4 hours D) 5 hours E) 6 hours
Under perfect competition, the market price is equal to the _____ of a profit-maximizing firm. a. fixed costs
b. marginal costs. c. sunk costs. d. variable costs.
Explain why the following situation is likely to persist: soccer players in Europe are the highest paid athletes and in the US they are among the lowest paid athletes
Edward Denison identified which of the following as the main source of productivity growth in the United States between 1929 and 1982?
A. added labor and capital B. the increase in labor's education and training C. advances in knowledge obtained through research and development D. the improved quality of corporate management