Which of the following would be likely to expand a production possibilities curve?
a. a decrease in unemployment
b. a decrease in price levels
c. an increase in price levels
d. none of the above
d
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In the figure above, the total revenue from pizza per day is
A) $60,000. B) $100,000. C) $40,000. D) $80,000. E) $50,000.
Adriana wants to try working as an independent contractor this summer. She has a 50 percent chance that she will make $9,000 and 50 percent chance that she will make nothing. What's Adriana's expected income?
A) $4,000 B) $4,500 C) $2,000 D) $3,000
The paintings of a world famous artist Vincent Van Gogh have a price elasticity of supply
A) equal to 2.0. B) equal to 1.0. C) close to 0.0. D) approaching infinity.
Why do the British supply pounds to the dollar-pound market?
a. To buy goods and services from American firms. b. To buy American assets. c. To buy stock in American firms on the London stock exchange. d. Both (a) and (b) are correct. e. None of the above.