The tables above show the labor market and the production function schedule for the country of Pickett. Potential GDP is ________
A) $40 trillion
B) $9 trillion
C) $14 trillion
D) $25 trillion
C
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The concept of utility:
A. cannot be used to explain why people are charitable. B. cannot be used to explain why people are altruistic. C. cannot be used to explain why people are selfish. D. None of these is true.
If U.S. monetary authorities want to strengthen the dollar, they will
a. sell dollars in the foreign exchange market b. buy dollars in the foreign exchange market c. declare the dollar devalued d. sell dollars and buy only Euros in the foreign exchange market e. encourage other central bankers to sell dollars in the foreign exchange market
The deadweight loss that is associated with a monopolistically competitive market is a result of
a. price falling short of marginal cost in order to increase market share. b. price exceeding marginal cost. c. the firm operating in a regulated industry. d. excessive advertising costs.
The person most closely associated with a conservative theory of poverty is
A. Charles Murray. B. William Julius Wilson. C. Frances Fox Piven. D. Barbara Ehrenreich.