Use the table below to answer the following question.UnitsMaximum Willingness to PayMarket PriceMinimum Acceptable Price1$14$10$62121083101010481012561014641016At what level of output is productive efficiency achieved?
A. 3
B. 4
C. 5
D. 6
Answer: A
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When the exchange rate for the British pound changes from $1.80 per pound to $1.60 per pound, then, holding everything else constant, the pound has ________ and ________ expensive
A) appreciated; British cars sold in the United States become more B) appreciated; British cars sold in the United States become less C) depreciated; American wheat sold in Britain becomes more D) depreciated; American wheat sold in Britain becomes less
A labor union composed of workers in the same industry is called
A) a craft union. B) an industrial union. C) a company shop. D) a guild.
The problem with allocating income according to productivity is that some people have difficulty earning income
a. True b. False
The government budget involves:
A. money coming in as tax revenues. B. money going out through government purchases. C. money going out to individuals for programs that do not involve goods or services. D. All of these are true.