A. Unemployment
B. Inflation
C. The wages paid to footballers
D. Economic growth
A. China
B. United States
C. Russia
D. Europe
A. Price is greater than marginal cost
B. price equals marginal cost
C. price is less than marginal cost
D. None of the above
A. with an average product of labor in agriculture that is negative
B. with a downward-slog supply curve of labor
C. with a marginal productivity of labor zero or negligible in industry
D. with a traditional agricultural sector and an industrial capitalist sector
A. Gross Domestic Product (GOP)
B. Gross National output (GNO)
C. Gross National Product (GNP)
D. Gross National output
A. Total utility is zero
B. An additional unit of consumption will decrease total utility
C. An additional unit of consumption will increase total utility
D. Total utility is maximized
A. a country moves from autarky to free trade
B. a movement to a customs union reduces the cost of trade through standardization
C. economic integration results in a movement in product origin to a lower-cost member country
D. economic integration results in a shift in product origin from a lower cost nonmember country to a member country having higher costs