What were the top three destinations for U.S. exports of goods and services in 2011 in order of importance?
a. France, Germany, and the United Kingdom
b. Japan, China, and South Korea
c. Canada, Mexico and China
d. China, Japan, and United Kingdom
c
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List three reasons why one type of labor may be paid more than another
What will be an ideal response?
The opportunity cost of providing a public good to an additional individual is
A) infinite. B) zero. C) impossible to determine. D) high because of the exclusion principle.
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
Exhibit 7-13 Price and cost per unit curves
?
In Exhibit 7-13, the firm will not produce when the price is between:
A. zero and P2. B. P2 and P3. C. P3 and P4. D. P4 and P5.