If the going rate of interest were 8 percent and the expected profit rate were 14 percent, then the opportunity cost of a firm carrying out a $100,000 project for one year with its own funds would be

Describe the relationship illustrated by the Laffer curve

What will be an ideal response?

Over extended periods of time, population growth

a. has no effect on the standard of living. b. has uncertain effects on the standard of living. c. clearly raises the standard of living. d. clearly lowers the standard of living.