An optimal two-part tariff pricing schedule maximizes consumer surplus
Indicate whether the statement is true or false
FALSE
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Use the figure below to answer the next question. 
An increase in an economy's labor productivity would
A. shift the production possibilities frontier from CD to AB. B. move the economy away from point B and toward point A. C. shift the production possibilities frontier from AB to CD. D. move the economy away from point A and toward point B.
For many jobs, as wages increase, the quantity supplied of labor increases. This set of facts is evidence that the
A) substitution effect is larger than the income effect and the supply of labor curve is upward sloping. B) income effect is larger than the substitution effect and the supply of labor curve is upward sloping. C) substitution effect is larger than the income effect and the supply of labor curve is backward bending. D) income effect is larger than the substitution effect and the supply of labor curve is backward bending.
Basic economics indicates that the cornerstones of economic progress are
What will be an ideal response?
The benefits of economic growth, particularly as measured by real GDP per capita, include
What will be an ideal response?