Which point or output-combination in the graph below could the nation produce only if it experienced economic growth?





A. Combination F

B. Combination G

C. Combination C

D. Combination E


Answer: C

Economics

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Kyle works for a perfectly competitive firm where he receives a wage rate of $15. From this, one can infer that:

A. Kyle's reservation wage is $15. B. Kyle's value of marginal product is at least $15. C. the price of the firm's output is at least $15. D. Kyle's marginal product is at least $15.

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The Fed is structured as an agency of the executive branch, with the Chairman of the Fed answering directly to the President.

a. true b. false

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In the case of a small country, consumer surplus

A) decreases less with a tariff than with an equivalent quota. B) decreases less with a quota than with an equivalent tariff. C) decreases the same with tariffs and equivalent quotas. D) increases more with quotas.

Economics