When people are educated, they become:
A. more productive to society, because they have more skills to apply to a job.
B. more productive to society, because they are paid more.
C. less productive to society, because they require higher pay per hour.
D. less productive to society, because they stop working while in school.
Answer: A
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Using the information in the table, when moving from possibility C to D, the cost of 1 unit of a capital good in terms of the consumption goods forgone is ________ consumption goods per capital good. A) 10 B) 25 C) 15 D) 20 E) an undefined amount of
Average product of labor is equal to ________
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