Refer to Figure 7-3. If there was no quota, how many pounds of peanuts would domestic producers supply?
A) 10 million B) 28 million C) 30 million D) 40 million
A
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Refer to Table 2-13. What is Horace's opportunity cost of grooming a dog?
A) half a bathed cat B) two bathed cats C) one and a half bathed cats D) two-thirds of a bathed cat
It's difficult for a private firm to provide a public good because of free riders
a. True b. False Indicate whether the statement is true or false
The slope of a curved line at a particular point is
a. always greater than the slope of a straight line at the same point. b. always smaller than the slope of a straight line at the same point. c. defined as the slope of the straight line representing the average values for the entire curve. d. defined as the slope of the straight line that is tangent to the curve at that point.
Who are the decision makers in the most basic macroeconomic model?
a. the rest of the world and firms. b. government and firms c. households and government. d. households and firms.