The combination of goods and services Mexico's citizens might feasibly consume are called Mexico's
A. total consumption.
B. consumption possibilities.
C. total production.
D. production possibilities.
Answer: B
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If the government creates a system of pollution permits, firms with low marginal costs of reducing pollution will
A) buy permits from other firms. B) sell permits to other firms. C) hold on to the permits they have been issued and not attempt to buy more. D) not be issued permits.
The real interest rate can be thought of as
A) the price of current consumption relative to future consumption. B) the price of current consumption completely smoothed over a lifetime. C) the price of future consumption smoothed completely over a lifetime. D) the price of current consumption divided by the price of current saving.
Which of the following best describes the eclectic aggregate supply curve?
A. Horizontal until full employment is reached, and then it becomes vertical. B. Vertical at all output levels. C. First horizontal, then upward sloping, and finally vertical. D. Downward sloping.
Refer to Figure 8.6. Curve 3 is Outdoor Equipment's A) marginal cost curve. B) average variable cost curve. C) average total cost curve. D) average fixed cost curve