Which of the following characterizes the IACs?
A. high per capita GDP growth and high population growth
B. low per capita GDP growth and low population growth
C. low per capital GDP growth and high savings rate
D. low human capital investment
Answer: B
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According to the textbook, income inequality statistics can be misleading because
A) they are collected by the Census Bureau, whose objectivity cannot be trusted. B) they ignore the income mobility of individual families and households through time. C) they do not take into account inflation. D) they fail to be of use in policy proposals and debates.
Suppose Dunkin' Donuts buys coffee beans from a wholesaler for $1. They package the beans up and sell them as their own "Dunkin' Donut" beans for $10 at their store. How much value is added to the economy?
A) $10 B) $11 C) $13 D) $15
In the above table, the marginal product of the fourth worker is
A) 1. B) 3. C) 4. D) 6.
How does marginal cost change as output increases (a) initially and (b) eventually?
What will be an ideal response?