Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point F
A. is efficient and attainable.
B. cannot be produced with the current state of technology.
C. represents underallocation of resources.
D. represents what the people want.
Answer: B
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When investment is autonomous, it is independent of the level of national income
Indicate whether the statement is true or false
The condition for utility maximization states that the marginal utility per dollar spent on any product must equal the marginal utility per dollar spent on other goods
a. True b. False Indicate whether the statement is true or false
Gross Domestic Product in the U.S. is roughly:
A. more than six times M1. B. twice as large as M2. C. equal to M1. D. equal to M2.
Suppose that Anne buys three pairs of designer shoes at $200 a pair. If the price equals the amount Anne is willing to pay for the third pair, then:
A. she earned no consumer surplus. B. she might have earned some consumer surplus on the first two pairs of shoes. C. she would have earned consumer surplus if she bought one more pair of shoes. D. she would have earned more consumer surplus if she bought one fewer pair of shoes.