The volume of U.S. debt in absolute terms was the highest during the period:
a. 1995–2000.
b. 1945–1950.
c. 2010–2014.
d. 1975–1980.
c
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The average total cost curves for plants A, B, C and D are shown in the above figure. Which plant is best to use to produce 80 units per day?
A) plant A B) plant B C) plant C D) plant D
Suppose that opportunity costs are constant and that Fred can either bake a maximum of six pies or three cakes in a day. Ethel can produce a maximum of eight pies or two cakes in a day. Fred has an comparative advantage in the production of
A) cakes. B) pies. C) both cakes and pies. D) neither cakes nor pies.
Of the four major market structures, oligopoly is the worst at achieving economic efficiency
a. True b. False
In the basket of goods that is used to compute the consumer price index, which of the following categories of consumer spending is the smallest?
a. education & communication b. apparel c. medical care d. recreation