Output per worker is 50, the saving rate is 15 percent, the ...

[09madisonrousseau09]

Output per worker is 50, the saving rate is 15 percent, the population is growing at one percent, depreciation is 9 percent, and the capital-labor ratio is 80. Consumption per worker is ________.
 
  A) 37.5
  B) falling
  C) 75
  D) 68

Question 2

International trade was not important to the industrializing U.S. since it was relatively rich in raw materials and land.
 
  Indicate whether the statement is true or false

[millet]

Answer to Question 1

B

Answer to Question 2

False (The producers in the U.S. and many producers in the rest of the world relied on production operating on the basis of comparative advantage. They produced those goods and services that minimized opportunity costs around and across regions, the nation and the globe. Those items were then traded for those goods in which producers possessed a comparative disadvantage. Market size and economic conditions permitted many U.S. producers to trade with each other.)