Negotiations between the management of a company and the management of a union for the purpose of setting a mutually agreeable contract on wages, fringe benefits and working conditions for all employees in a union is know as

Balanced growth occurs when

A) the economy is in steady state. B) the growth rates for the capital-labor ratio and real GDP per worker are the same. C) total factor productivity and capital accumulation each account for the same amount of growth in labor productivity. D) nations converge to the same level of real GDP per worker from equal increases in total factor productivity.

Suppose the marginal cost of a piece of candy is given by MCc = 2Qc and the marginal cost of a desk is MCd = 4 + 4Qd. The current production levels are 20 pieces of candy and 4 desks. The marginal rate of transformation (MRT) is

A) MRT = -1. B) MRT = -2. C) MRT = -4. D) MRT = -8.