According to this Application, current spending on federal retirement and health programs accounts for 10 percent of GDP. Experts estimate that this spending component's share of GDP ________ by the year 2075
A) will more than double B) will remain constant
C) will grow moderately initially then taper off D) is likely to shrink
A
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The standard of living rises at a faster pace than labor productivity if
A) n = q. B) n < q. C) n > q. D) The standard of living is not affected by the relative size of n and q.
Exhibit 7-2 Cost schedule for pizza production Pizzas LaborCost EnergyCost MaterialsCost 0 $10 $ 0 $ 0 1 10 12 4 2 24 22 8 3 40 30 12 4 60 36 16 5 90 40 20 Exhibit 7-2 shows the labor, energy, and materials cost of making various quantities of pizzas. The table shows that the labor cost of making pizzas will:
A. increase at a decreasing rate. B. decrease at a decreasing rate. C. decrease at an increasing rate. D. increase at an increasing rate.