According to the text, "economics tempers the enthusiasm of a manager to focus on the customer" because
A) customers hardly know what they want.
B) focusing solely on the customer may ignore other important elements of business success.
C) it shows the manager that the greatest benefit to the firm is to sell more.
D) it enables the manager to see that any kind of customer focus is not worth the costs.
E) it ensures that managers will find equilibrium.
B
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The twosector (manufacturing and agriculture) specific factors model assumes:
a. that there are increasing returns to labor. b. that there are diminishing returns to labor. c. that there are diminishing returns to capital in the agricultural sector. d. that there are diminishing returns to land in the manufacturing sector.
If real GDP per capita doubles between 2005 and 2020, what is the average annual growth rate of real GDP per capita?
A) 4.7% B) 10.5% C) 15% D) 21%