Refer to the graph shown. If labor costs $10 per unit and machines cost $15 per unit, the economically efficient cost of producing 500 units of output is:

The growth rate of real GDP per person in the United States has

A) averaged approximately 2 percent per year over the past century. B) has consistently been 2 percent per decade over the past century. C) has been the highest in the world over the past 5 decades. D) has increased every year over the past century.

Which of the following is a microeconomic statement?

A. The real domestic output increased by 2.3 percent last year. B. Unemployment was 6.5 percent of the labor force last year. C. The price of personal computers declined 4.7 percent last year. D. The general price level increased by 3.1 percent last year.