Using Figure 1.5 above, we know the production of 3 units of soda and 2 units of pizza is 
A. possible, but there would be unemployed.
B. possible, but only if all resources were fully employed.
C. impossible because we have the technology but do not have the resources.
D. impossible because we have the resources but do not have the technology.
Answer: B
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The table above shows the marginal costs and marginal benefits of college education. The marginal private benefit of college education at the efficient amount of enrollment is
A) $20,000 per year. B) $16,000 per year. C) $12,000 per year. D) $14,000 per year.
In general, pollution exists in situations in which
A) people are selfish. B) people refuse to take social responsibility seriously. C) there are poorly defined private property rights. D) there exists public property.
Vertical contracts aim to
a. Incentivize the manufacturers to undertake costly activities, which they may not realize the full benefits of on their own b. Incentivize the retailers to undertake costly activities, which they may not realize the full benefits of on their own c. Incentivize the retailer and the manufacturer to undertake activities that reduce profits for the supply chain d. Both A&B
Suppose Country A and Country B are each other's only trading partners. Country A exports more goods and services to Country B than it imports from it. Which of the following statements is true of the given scenario? a. The GDP of Country A will be positively affected by this trade relationship, while the GDP of Country B will be negatively affected by it. b. The GDP of Country A will be
negatively affected by this trade relationship, while the GDP of Country B will be positively affected by it. c. The GDP of both countries will increase as an effect of this trade relationship. d. The GDP of both countries will decrease as an effect of this trade relationship.