When a country's production possibilities frontier shifts outward over time, the country is experiencing

A buyer's consumer surplus on a unit of a good is its value to that buyer minus the market price

a. True b. False

Which of the following provides the strongest evidence that the corporate form of business structure is relatively cost efficient in many industries?

a. the ability of the corporate business structure to compete effectively in most industries with other forms of business structure b. the fact that nearly three of every four businesses in the United States is an individual proprietorship c. the fact that economic theory indicates corporate managers have some leeway to pursue their own interests at the expense of greedy capitalists d. the ability of some corporate managers to achieve high salaries even though the firms they are directing are not earning economic profit