In Figure 1.2, which labeled point indicates that there are insufficient resources or technology to produce the combination of goods represented by that point? 
A. only A
B. only C
C. only D
D. A, B, and C
Answer: C
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Identify the four factors of production, and tell what type of income is earned by each factor
What will be an ideal response?
If Nike and Adidas are faced with the game in the figure, we can see that:
A. Nike has a dominant strategy, but Adidas does not.
B. Adidas has a dominant strategy, but Nike does not.
C. Neither company has a dominant strategy.
D. Both companies have a dominant strategy.
Who is affected when a Pigouvian tax is imposed on a market with a negative production externality?
A. Producers B. Consumers C. Those affected by the externality D. All of these groups are affected when it becomes internalized.
Suppose that the adult population in some country is 225 million. If 40 million are unemployed and 100 million are employed, then the unemployment rate is approximately
a. 29%. b. 18%. c. 24%. d. 6%.