Implementation of the National Industrial Recovery Act (1933) positively impacted overall industrial production

For a monopsony, the marginal cost of labor exceeds the wage rate because the firm must increase the wage it pays to all of its workers if it wishes to increase its employment

Indicate whether the statement is true or false

The only way the standard of living of the average person in a country can increase is if ________ increases faster than ________

A) population; production B) population; income C) population; GDP per capita D) production; population