A production possibility graph slopes down because of:
a. the law of increasing costs.
b. nonhomogeneous resources.
c. inefficiency.
d. improper output mix.
e. unemployment.
b
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Jamestown's early years were marked by
a. a focus on futile "get rich quick" schemes. b. collective operations under which production methods and consumption were shared. c. lack of local control over production decisions. d. extremely high mortality rates. e. All of the above.
A problem with using fiscal policy to fine-tune the economy is that
A. fiscal policy impacts the economy too fast. B. fiscal policy impacts only the largest states in the nation. C. fiscal policy impacts only urban areas of the nation. D. it takes time for policymakers to agree on the appropriate fiscal policy.
Refer to the graph shown. Between points A and B, demand is:
A. perfectly elastic. B. inelastic. C. unit elastic. D. elastic.
Examine Figure 37.1. What is the number of students educated in a market that has no subsidy? 
Figure 37.1
A. S* B. S' C. All who have any desire for it D. The answer is unknown from this diagram.