1) Rational people a) Undertake an action if it has a positive economic surplus b) Might correctly calculate marginal costs c) Ignore scarcity in decision making d) Might correctly calculates marginal benets 2) Benefits from trade increase when a) One party 3 PFC is as at as possible whereas the other 3 is as steep as possible b) Each party acts in accordance with his or her absolute advantage 0) Trading partners have similar opportunity costs d) Each party 3 PFC is very similar 3) \"if nevergoland s real GDP per person is $2088. What will the approximate real GDP per person be in 3 years if it has an annual growth rate per capita real GDP. a) 152215 b) 20994.27 c) 2152.27 d) 626.4 4) absolute advantage refers to a) Someone who has a higher opportunity costs b) Lower opportunity costs c) The fact that one has lower production costs d) Comparative advantage