In the derivation of TVC, you
A. subtract the amount of the vertical intercept of the TC down from the TC at each quantity.
B. move the TC to the right a fixed distance.
C. the minimum-slope ray out of the origin to the TC.
D. the vertical intercept of the TC and draw a horizontal line.
Answer: A
Economics
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If real GDP per person in a country equals $20,000 and 40 percent of the population is employed, then average labor productivity equals:
A. $8,000. B. $40,000. C. $20,000. D. $50,000.
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Which of the following factors has been suggested as an explanation for the lack of economic growth in many poor nations?
A. a lack of dependence on the already developed nations B. the supply of human resources is too high. C. inadequate level of resources D. insufficient capital formation
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