The most commonly used metric for measuring the value of a national economy is:

Which of the following is not a source of technological advancement for a producer?

A) more efficient physical capital B) outsourcing some aspect of production C) higher skill level of managers D) better trained workers

If, as a person consumes more and more of a good, each additional unit adds less satisfaction than the previous unit consumed, we are seeing the workings of

A) the law of increasing marginal opportunity cost. B) the law of demand. C) the law of supply. D) the law of diminishing marginal utility.