Refer to the information provided in Figure 2.2 below for the economy of Microland to answer the question(s) that follow.
Figure 2.2Refer to Figure 2.2. Full resource employment and production efficiency is represented by a point
A. inside the production possibility frontier.
B. along the production possibility frontier.
C. either inside or along the production possibility frontier.
D. outside the production possibility frontier.
Answer: B
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Which of the following is not included in the investment component of GDP?
a. The purchase of 100 shares of stock. b. The purchase of a $1000 bond. c. A firm's purchase of a used van to use for deliveries. d. None of the above are included in the investment component of GDP.
Someone 18 years old who is not employed and is not actively seeking work is considered
A. In the labor force. B. Not in the labor force. C. Unemployed. D. Employed.
Refer to the information provided in Figure 8.4 below to answer the question(s) that follow. 
Figure 8.4 Refer to Figure 8.4. Micro Oven's average fixed costs of producing 10 units of output are
A. $30. B. $40. C. $50. D. indeterminate from this information.
How does a temporary technological improvement that raises labor's marginal productivity affect the supply of labor?
a. There is no change in labor supply-changes in marginal productivity affect only labor demand. b. The fall in labor supply is greater than if the improvement were permanent. c. Labor supply will rise only if employers are willing to pay compensating differentials. d. Income effects lower labor supply, while intertemporal substitution raises labor supply.