The table above presents the production possibilities frontier for a nation
Using the information in the table, when moving from possibility C to D, the cost of 1 unit of a capital good in terms of the consumption goods forgone is ________ consumption goods per capital good.
A) 10
B) 25
C) 15
D) 20
E) an undefined amount of
A
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Assume the population growth rate is 2 percent and the real GDP growth rate is 5 percent. The change in standard of living, as measured by the growth rate in real GDP per person, is
A) 7 percent. B) 2.5 percent. C) 5 percent. D) 3 percent. E) -3 percent.
The Herfindahl-Hirschman Index measures:
A. the degree of concentration in a market. B. the percentage of market share held by the four largest firms in a market. C. the percentage of market share held by the largest firm in a market. D. the market share held by the largest firm in a market divided by the market share held by all other firms in the market.