The above table shows production combinations on a country's production possibilities frontier. Which of the following points signifies efficient production?
A) 0 units of good X and 40 units of good Y
B) 3 units of good X and 25 units of good Y
C) 10 units of good X and 16 units of good Y
D) 12 units of good X and 1 unit of good Y
A
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As a result of a per-unit tax on output in a market: a. the quantity traded increases
b. the quantity traded does not change. c. the quantity traded decreases. d. a surplus is created at the new equilibrium price.
The above figure shows the U.S. market for replacement cell phone batteries. The U.S. government collects tariff revenue of ________ on each battery imported
A) $4 B) $14 C) $12 D) $6 E) $2
Refer to Figure 15-1. In the figure above, the money demand curve would move from Money demand1 to Money demand2 if
A) the price level increased. B) real GDP decreased. C) the interest rate decreased. D) the Federal Reserve sold Treasury securities.
Which of the following is assumed constant in the short-run Classical model?
A) Money supply B) Output C) Aggregate demand D) Wages