Two countries with the same saving rates must have the same growth rate of real GDP per person

Representative democracy works best _____

a. to allocate resources when constitutional rules limit the scope of collective action b. to equalize income when constitutional rules mandate a simple majority rule for all collective decision-making c. with a strong executive branch d. external costs of collective decision-making are extremely high

If ten cases of spring water are sold at a price of $6 each in a perfectly competitive output market and the marginal product of the last unit of labor is 5, then the marginal revenue product of that last unit of labor is

a. $60 b. $30 c. $50 d. $2 e. 60 cents