_____ said that "The government is best which governs least".
Fill in the blank(s) with the appropriate word(s).
Thomas Jefferson
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A point outside the production possibilities curve represents a combination of goods that is
a. inefficient. b. efficient. c. unattainable. d. attainable.
Refer to the above graph. It shows short-run cost curves for a competitive firm. At what price would the firm break even?
A. P1 B. P2 C. P3 D. P4
In a perfectly competitive market, what would you expect to happen to the number of firms and firm profitability in the short run and long run if demand for the product rises?
What will be an ideal response?
One school of thought that emphasizes the role that taxes play in an economy's supply of output is known as
A) classical economics. B) tax-and-spend economics. C) demand-pull economics. D) supply-side economics.