In the IS-LM diagram, we are in "general equilibrium"
A) at all points.
B) at all points on the LM curve.
C) at all points on the IS curve.
D) only at the intersection of the IS and LM curves.
D
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The figure above shows the costs and benefits associated with producing paper. What is the marginal external cost when output is 6 tons?
A) $1,600 B) $1,200 C) $1,000 D) $600 E) $400
The majority of new jobs created in the service sector of the U.S. economy have been in the information sector
a. True b. False Indicate whether the statement is true or false
Assume that an individual consumes two goods, X and Y. The total utility (assumed measurable) of each good is independent of the rate of consumption of other goods. The prices of X and Y are, respectively, $5 and $10. 
Given the above, if the consumer has $110 to spend on X and Y, which combination will the consumer choose?
A. 7X and 7Y B. 8X and 7Y C. 6X and 8Y D. 7X and 6Y E. 5X and 4Y
The effect of a tariff or a quota is to
A. raise the price of a commodity in the exporting country above the price in an importing country. B. raise the price of a commodity in an importing country above the price in the exporting country. C. lower the price of the commodity in all countries. D. raise the price of the commodity in all countries.