The basic organizing framework for both microeconomic and macroeconomic models is

The supply curves for labor and capital are ________ and the demand curves for labor and capital are ________

A) upward sloping; downward sloping B) vertical; horizontal C) vertical; downward sloping D) upward sloping; vertical

Under modern economic growth, the annual average increase in output per person is

A. Often not large, perhaps 2% per year B. Often large, perhaps greater than 5% per year C. Often small, perhaps less than 1% per year D. Often the same in rich countries as in poor countries