Refer to the above graph. Which point on the production possibilities curve would indicate that there is unemployment in this economy?
A. B
B. D
C. A
D. C
Answer: B
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The fixed fee a firm is able to charge as part of a two-part pricing strategy is inversely related to the amount of consumer surplus the customer realizes at the profit-maximizing level of output
Indicate whether the statement is true or false
Legislation that contains a number of projects benefiting local interests at the expense of the general taxpayer is called
a. balanced-budget legislation. b. pork-barrel legislation. c. voucher legislation. d. public-goods legislation.
The World Trade Organization is called _______________ because it involves many, if not most, of the nations in the world.
a. a bilateral trade organization b. a trilateral trade organization c. a multilateral trade agreement d. a quasi-political trade organization
In the Great Recession of 2007-2009, the aggregate expenditures schedule in the U.S. economy dropped, mostly due to a fall in:
A. Consumption spending B. Investment expenditures C. Government spending D. Net exports