When the interest rate is higher, the difference between the value of money today and tomorrow is smaller.

If another worker is hired with a marginal product greater than the previously hired worker, which of the following will be true?

A) Total costs will decrease. B) Fixed costs will decrease. C) Marginal cost will increase. D) Marginal cost will decrease. E) Average fixed costs will increase.

As of 2014, using real GDP per person as a measure, we would classify

a. the United States and Mexico as advanced economies and Bangladesh as a middle-income country. b. Canada as an advanced economy, Mexico as a middle-income country, and Pakistan as a poor country. c. Japan and India as advanced economies and Mexico as a poor country. d. Japan as an advanced economy, the United Kingdom as a middle-income country, and Argentina as a poor country.