Refer to the information provided in Figure 9.1 below to answer the question(s) that follow. 
Figure 9.1Refer to Figure 9.1. If this farmer maximizes profits, his average fixed costs will be
A. $2.
B. $7.
C. $11.
D. $24.
Answer: A
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When a forest is logged, it is possible for the logging to create "soil runoff," a situation in which the soil, no longer protected by trees, erodes and silts a river miles downstream from the logging area
Is soil runoff created by logging in Montana that ruins a river an example of a private cost to the lumbering company or an external cost?
You're the president of the United States and your economic advisor tells you that the economy is in a state of stagflation. Are you happy? Stagflation refers to
a. inflation and low unemployment b. high unemployment and low levels of inflation c. high inflation, high unemployment, and low economic growth d. low inflation, low unemployment, and low economic growth e. low inflation, low unemployment, and high economic growth
During 2008-2013, the Fed initiated several rounds of "quantitative easing.". Under this policy, the Fed
a. increased its purchases of financial assets and thereby injected additional reserves into the banking system. b. increased its purchases of financial assets, which reduced the reserves available to the banking system. c. reduced its purchases of financial assets and thereby injected additional reserves into the banking system. d. reduced its purchases of financial assets and thereby reduced the quantity of reserves available to the banking system.
Currently the NAFTA nations do not meet the conditions for an optimal currency area. What are the two main reasons why?
What will be an ideal response?