Exhibit 2-15 Production possibilities curve
In Exhibit 2-15, the economy will experience the most future economic growth if it chooses what point now?
A. J.
B. K.
C. M.
D. N.
Answer: D
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The figure above illustrates the bagel market. Which of the following statements is correct?
A) With a price ceiling of $1.00 per bagel, the price of a bagel is $1. B) With a price ceiling of $3.00 per bagel, the price of a bagel is $2. C) With no government intervention, the equilibrium price of a bagel is $2. D) Only answers A and B are correct. E) Answers A, B, and C are correct.
Suppose Sue's buys a good for $60 on eBay. If the consumer surplus from the sale is $25, Sue would have been willing to pay:
a. $35 b. $25. c. $60 d. $85.
A means tested government program is one that:
A. is pilot tested to see if it works. B. provides assistance to those below a certain income level. C. is temporary and ends after a short period of time. D. All of these
The current chairman of the Federal Reserve is Ben Bernanke.
Answer the following statement true (T) or false (F)