I am not too sure of the answers to some of these (5 short questions ) - can you please help ?

The supply curve for the firm in perfect competition:

Select one:

a. is the MC curve above the minimum of ATC.

b. tells the quantity produced at each price.

c. must result in a price greater than MR.

d. shows the outputs at which the rm makes an economic profit.

Which of the following statements is true?

I. Small differences in rates of economic growth can lead to large differences in levels of

potential output over time.

II. From the perspective of the rule of 72, small differences in rates of economic growth

between two countries will not significantly affect their respective standards of living.

III. Countries that have higher population growth rates are likely to see higher economic

growth rates because increases in population lead to increases in the size of the labor force.

Select one:

a. I and III

b. II and III

c. I only

d. II only

e. III only

Gross domestic product:

Select one:

a. is a flow variable.

b. is a stock variable.

c. could be either a flow variable or a stock variable depending on the time period

considered.

d. is neither a flow nor a stock variable; it is a statistic.

Towards the end of the twentieth century, some of the world's more auent countries

experienced robust growth. Which of the following is not linked to high growth performance?

Select one:

a. encouragement of competitive behavior

b. private sector research and development

c. strict regulations in labor markets, for example strict employment protection legislation

d. liberal trade policies

Marginal cost is the change in:

Select one:

a. total cost resulting from a 1-unit change in a variable input.

b. total cost resulting from a 1-unit change in quantity.

c. total cost resulting from a 1-unit change in average cost.

d. average cost resulting from a 1-unit change in quantity.