Refer to Figure 6.1. At which point on the total product curve is the average product of labor the highest?

To calculate GDP using the expenditure approach, in part it is necessary to

A) add imports and exports. B) add imports and subtract exports. C) add exports and subtract imports. D) subtract both exports and imports.

The total variable cost curve increases at a decreasing rate when there are early gains from specialization

Indicate whether the statement is true or false