Specialization and division of labor are made easier by the existence of money
a. True
b. False
Indicate whether the statement is true or false
True
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The per capita GDP for Japan in 2014 was $48,500 and in 2015 was $49,470. How much did the Japanese per capita GDP grow in 2015?
A) 2 percent B) -2 percent C) 3 percent D) Cannot be determined without further information
The short-run supply curve for a perfectly competitive firm is its marginal cost curve above the minimum point on the
A) average fixed cost curve. B) average variable cost curve. C) average total cost curve. D) demand curve.
Most tax payments increase as GDP increases
a. True b. False Indicate whether the statement is true or false
Refer to the graph below. The selection of which point on the production possibilities curve is most like to result in the largest increase in economic growth over time?
A. A
B. B
C. C
D. D