If over a short time there is an increase in the number of people retired and a decrease in the number of people working, then productivity
a. and real GDP per person rise.
b. rises but real GDP per person falls.
c. falls and real GDP per person rises.
d. and real GDP per person fall.
b
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In the table above, country A is producing 4 units of X and 8 units of Y and country B is producing 4 units of X and 6 units of Y. The opportunity cost of producing more of
A) good X is the same for both countries. B) good Y is the same for both countries. C) good X is lower in country A. D) good Y is lower in country A.
When the yield curve is flat or downward-sloping, it suggest that the economy is more likely to enter
A) a recession. B) an expansion. C) a boom time. D) a period of increasing output.
Marginal, average, and total figures are unrelated.
Answer the following statement true (T) or false (F)
Entrepreneurship is
A. restricted to perfect competition. B. occurs only in well-functioning markets. C. the process of planting new crops. D. the process of taking business risks.