Refer to the graph below. 
Given the production possibility curve, which point is unattainable?
A. A
B. B
C. C
D. D
Answer: B
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Since 1900, real GDP in the United States has grown
A) more rapidly than the population. B) as rapidly as the population. C) more slowly than the population. D) in a random unpredictable manner relative to the population.
To calculate GDP by the expenditure method, one must add
A) wages, rents, interest, and profits. B) consumption spending, investment spending, government spending, and net exports. C) labor, natural resources, entrepreneurship, and capital. D) consumption spending, investment spending, government spending, and exports.
Which of the following tools of commercial policy acts as a quantitative restriction on imports?
a. Tariff b. Subsidy c. Health and Safety regulations d. Quota e. Government procurement
If one firm sets the market price
a. the market is perfectly competitive b. the market is not perfectly competitive c. there are a large number of buyers who can buy from a wide range of competitors d. there is free entry into the market e. its product must be a standardized commodity, produced by many competitors