The data show that the American national income grew fast enough—even when immigration rates are taken into account—to produce rising income per capita between 1860 and 1910

One way to view equilibrium in the simple Keynesian model without government spending and taxes is that:

A) saving equals planned investment. B) saving equals planned expenditures. C) saving equals planned autonomous spending. D) None of the above.

Implicit costs are best thought of as:

a. variable costs. b. marginal costs. c. accounting costs. d. opportunity costs. e. sunk costs.