Refer to Figure 27.1. Production efficiency
A. Can be achieved at P4.
B. Can be achieved at P1.
C. Can be achieved at P3.
D. Cannot be achieved at any price without a subsidy.
Answer: D
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The above table gives data for the nation of Mojo. At what level of real GDP is the economy at equilibrium expenditure?
A) $3.0 trillion B) $9.0 trillion C) more than $12.0 trillion. D) $6.0 trillion E) $12.0 trillion
The phrase, "Google stock soared Friday, continuing Wall Street's love affair with the company," implies that Google's earnings were much more than it was expected in that quarter
a. True b. False Indicate whether the statement is true or false
American and Japanese workers can each produce 4 cars a year. An American worker can produce 10 tons of grain a year, whereas a Japanese worker can produce 5 tons of grain a year. To keep things simple, assume that each country has 100 million workers. for the US, what is the opportunity cost of a car?
a. 2.5 tons of grain b. 0.4 tons of grain c. 10 tons of grain d. 5 tons of grain
As price falls along a particular demand curve, consumer surplus:
A. decreases rapidly. B. decreases by a very small amount. C. remains constant. D. increases.