Since 1900, real GDP per capita has ________ and this measure ________ the actual growth in standards of living in the United States over this time

Hyperinflation is defined as periods of

A) inflation over 25 percent per year B) negative price changes. C) low inflation. D) inflation over 50 percent per month. E) inflation under 10 percent per year.

Which of the following statements is true?

A. Focusing on incremental costs is a bad idea for managers. B. Fixed cost is the same thing as variable cost. C. Costs look the same from all perspectives. D. Incremental cost is the same thing as marginal cost.