Recent evidence suggests that output per worker is
A) positively related to both the rate of investment and to the rate of population growth.
B) positively related to the rate of investment and negatively related to the rate of population growth.
C) negatively related to the rate of investment and positively related to the rate of population growth.
D) negatively related to both the rate of investment and to the rate of population growth.
B
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In the long run, perfectly competitive firms produce at the output level that has the minimum
A) marginal cost. B) average total cost. C) average variable cost. D) average fixed cost. E) total revenue.
Which of the following conditions can help prolong the life of a cartel?
A) There are only a few firms in the market and they all belong to the cartel. B) There are many firms in the market that are not members of the cartel. C) It is difficult to know what price any cartel member is actually charging. D) The cartel has no ability to punish members who cheat on the cartel.
Budget deficits cause interest rates to be high
a. True b. False
The economic problem can best be stated as:
A. Given the fact that the economy is inefficient, how much and what type of government intervention should be used to improve the efficiency of the economy? B. Given scarce resources, how exactly do societies go about deciding what to produce, how to produce it, and for whom to produce? C. What is the best rate of economic growth for a society? D. How can the economy improve technology so as to shift the production possibility frontier up and to the right?