Using the rule of 70, if the GDP per capita growth rate in the United States is 4.4 percent, real GDP per capita doubles every:

The European Central Bank:

A) emphasizes maintaining interest rates below 5%. B) lays more emphasis on controlling employment than on controlling inflation. C) emphasizes maintaining unemployment rates below 5%. D) lays more emphasis on controlling inflation than on controlling employment.

The optimal level of output may be defined as that level of output where

a. average benefit exceeds average cost by the greatest amount. b. total benefit equals total cost. c. marginal benefit exceeds marginal cost by the greatest amount. d. the marginal benefit of the last unit purchased equals its marginal cost. e. it is impossible to define optimal in any meaningful way.