Refer to Table 20-14. The percentage change in real average earnings from 1965 to 2010 equals

Which of the following is likely to be a benefit of foreign investment in a developing country?

a. Domestic firms are subjected to foreign competition b. Labor-intensive industries grow quickly c. New technology is adapted d. The natural rate of unemployment falls to zero e. The rate of inflation declines

According to the law of increasing opportunity cost,

a. opportunity cost rises as technology improves b. the production possibilities frontier is a straight line c. opportunity cost rises as society produces more of a good or service d. the production possibilities frontier is convex with respect to the origin (that is bowed toward the origin) e. monetary costs rise as opportunity cost rises