In the figure above, at the allocatively efficient level of computer production the marginal cost of producing a computer is
A) 0 televisions per computer.
B) between 0 and 3 televisions per computer.
C) 3 televisions per computer.
D) more than 3 televisions per computer.
C
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Refer to Figure 18.3. In autarky, the maximum amount of scooters that Livonia can produce is
A) 120. B) 100. C) 80. D) 40.
Which of the following is a flow in the circular flow model?
A) the flow of profit and the flow of revenue B) the flow of income earned by firms and the flow of expenditures earned by households C) the flow of revenue received by firms and the flow of payments to resource owners D) the flow of goods and services from households to firms
Congressman A promises to vote for a bill that Congressmen B and C are sponsoring, and in return both B and C promise to vote for a future bill that A is sponsoring. This practice is called
A) cutting "red tape." B) chasing the median voter. C) rational ignorance. D) logrolling.
When the U.S. experiences economic growth, the poverty rate will:
A. increase, because growth typically only benefits the richest 1 percent. B. fall, because growth typically helps the poor more than the wealthy. C. fall, because growth has benefited everyone. D. increase, because growth has benefited the wealthy more than the poor.