The return that the entrepreneur can obtain in the best alternative business is called the

When your professor asks a question that everyone in the class knows the answer to, yet no one raises his or her hand to answer the question, this is an example of what economists call

A) flying under the radar. B) shirking responsibility. C) the volunteer's dilemma. D) a game of chicken.

If Country A's real GDP per person is growing at 6 percent and Country B's real GDP per person is growing at 3 percent, then

A) the standard of living is higher in Country A. B) the standard of living is higher in Country B. C) the standard of living is growing more rapidly in Country A. D) We cannot say whose standard of living is growing more rapidly without knowing the population growth rate. E) We cannot say whose standard of living is growing more rapidly without knowing the growth rate of real GDP.