If real GDP grew 5 percent last year and the population grew 2 percent, then real GDP per person grew by ________ percent

When the marginal product of labor is greater than the average product of labor, the

A) marginal product of labor must be increasing as labor increases. B) average product of labor must be increasing as labor increases. C) total product must be increasing at an increasing rate as labor increases. D) None of the above answers is correct.

Economists believe that individuals respond in a predictable way to changes in costs and benefits. The term that best describes this belief is

a. opportunity cost b. demand c. supply d. scarcity e. rational behavior