According to the graph shown, if this economy were open to free trade, domestic producers would produce how many units?
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
A. 115
B. 60
C. 150
D. 90
B. 60
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Holding other factors constant, if a tax cut moves the government budget from a surplus to a deficit, then the real interest rate will ________ and the equilibrium quantity of national saving and investment will ________.
A. decrease; increase B. decrease; decrease C. increase; increase D. increase; decrease
Given the total cost and total revenue curves in the above figure, what are the output levels at which the perfect competitor will earn a positive economic profit?
A) from 0 to 30,000 bushels B) from 0 to 60,000 bushels C) between 30,000 and 80,000 bushels D) over 80,000 bushels
Which type of business organization is the most important part of U.S. history given its "super" economic powers?
(a) Sole proprietorship (b) Partnership (c) "Mom and pop" business, which is a mix of sole proprietorships and partnerships (d) Corporation
The key dimension of deepening human capital in the U.S. economy focuses more on a higher average level of work experience than on additional education and training
a. True b. False Indicate whether the statement is true or false