Charlston, a newly industrialized country, has a female population of 2.8 million. There are 1.08 million employed males in the country, while the number of dependent males is equal to 1.52 million. The GDP of Charlston is U.S. $298 billion. The output per capita of Charlston is approximately equal to _____

Cash payments for steel to be used in production would be an example of

a. sunk costs b. fixed costs c. explicit costs d. implicit costs e. entrepreneurial costs

Since it is difficult to establish and enforce ownership rights over air, people have less incentive to preserve air quality than if its ownership was clearly defined

a. True b. False Indicate whether the statement is true or false