Output per capita will tend to increase if the labor force participation rate in a country ____ or if workers put in ____ hours.
a. rises; longer

A firm that maximizes its profits by producing a certain level of output must also:

a) maximize its revenue. b) minimize its variable costs. c) maximize its output d) maximize its sales. e) minimize its cost of producing that output.

The consumption possibilities curve shows the combinations of goods that can be

A) consumed by a nation after trading begins. B) produced by a nation after trade begins. C) produced by a nation before trading begins. D) consumed by a nation before trade begins.