At the ________ level of provision for a ________ good, the government must know everyone's preferences.
A. optimal; public
B. optimal; private
C. unregulated; public
D. unregulated; private
Answer: A
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Refer to Table 2-2. Assume Billie's Bedroom Shop only produces pillows and blankets. A combination of 9 pillows and 21 blankets would appear
A) along Billie's production possibilities frontier. B) inside Billie's production possibilities frontier. C) outside Billie's production possibilities frontier. D) at the vertical intercept of Billie's production possibilities frontier.
Approximately what percent of all world production of goods and services is exported to other countries?
A) 10% B) 30% C) 50% D) 100% E) 90%
A firm that has relatively high fixed-cost expenditures is likely to be a natural monopoly
Indicate whether the statement is true or false
All of the following are ways to control currency convertibility EXCEPT
A) import licenses B) multiple exchange rates C) import deposits D) purchasing power parity