If real GDP grows at a faster rate than does population, then the standard of living, as measured by real GDP per person,
A) worsens.
B) remains the same.
C) cannot be measured.
D) improves.
E) either improves, worsens, or stays the same, depending on the size of the population and the actual level of real GDP.
D
Economics
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Ernie's Earmuffs produces 200 earmuffs per year at a total cost of $2,000 and $400 of this cost is fixed. If he increases output to 220 earmuffs, his total cost increases to $2100, and his fixed cost remains $400. What is Ernie's marginal cost per earmuff?
A) $105 B) $35 C) $9.55 D) $5
Economics
The "primary" market is the market for
A) hostile takeovers. B) newly-issued securities. C) equities of "blue chip" companies. D) league tables.
Economics