The maximum price that a buyer will pay for a good is called

In the bond market, the seller is considered to be

A) the lender. B) the borrower. C) the lender or the borrower depending upon the use to which the funds are put. D) the lender or the borrower depending upon whether interest rates are rising or falling.

Compared to high-income countries, low-income countries might have an advantage in achieving higher rates of worker productivity and economic growth in the future. This is because:

a. the economic growth rate begins to diminish as capital deepening increases in high-income countries. b. the invention of new technology is subject to diminishing marginal returns in high-income countries. c. the cost of adaption to new technology is lower in low-income countries than in high-income countries. d. the marginal cost of production decreases more in low-income countries than in high-income countries.