Figure 18.3Refer to Figure 18.3. In autarky, the maximum amount of pogo sticks that Livonia can produce is:
A. 120.
B. 100.
C. 80.
D. 40.
Answer: B
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In the above figure, the marginal cost of the second ton of wheat is
A) $25. B) $50. C) $75. D) none of the above
The slope of a line that passes through the points (20, 30) and (40, 14) is
a. -5/4. b. -4/5. c. 4/5. d. 5/4.
What are the two ways that the government can use fiscal policy to replace spending in a recession?
A. By reducing interest rates or by cutting taxes B. By spending money on government projects or by increasing the money supply C. By spending money on government projects or by cutting taxes D. By spending money on government projects or by reducing interest rates
(Last Word) In their effort to provide disaster relief after Hurricane Katrina, the Federal Emergency Management Agency (FEMA) made payouts on as many as 900,000 claims with invalid Social Security numbers or false names and addresses. This example
illustrates: A. the benefits-received principle. B. logrolling. C. bureaucratic inefficiency. D. the problem of limited and bundled choices.