One of the major reasons why the United States exports jet airplanes is because Boeing faces ________ opportunity cost than firms in other nations in the production of such aircraft
A) an unrelated
B) a lower
C) a higher
D) an identical
E) a nonexistent
B
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The slope
A) of a straight line is the same regardless of where on the line it is calculated. B) equals the change in the value of the variable measured on the vertical axis divided by the change in the variable measured along the horizontal axis. C) will be small if a large change in the variable measured on the vertical axis is associated with a small change in the variable measured along the horizontal axis. D) Answers A and B are correct. E) Answers A and C are correct.
According to classical growth theory, if labor productivity increases,
A) people save more, which increases the capital per hour even more, and so economic growth continues indefinitely. B) the population grows and eventually real GDP returns to the subsistence level. C) the population grows but more slowly than real GDP so that people's incomes are permanently higher. D) the pursuit of profit causes further increases in capital per hour and technology and economic growth continues indefinitely. E) the growth rate of real GDP per person permanently increases.