Given the data provided in the table below, what will the amount of profit be for production at quantity (Q) level 7?
a. -$10.00
b. $0.00
c. -$5.00
d. $1.00
a. -$10.00
There would be a $10 loss at quantity level 7.
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Sasha derives utility from consuming apples and tacos as shown in the table above. Apples cost $1 each and tacos cost $2 each. If Sasha's income is $8, he will consume
A) 4 apples and 2 tacos. B) 2 apples and 3 tacos. C) 0 apples and 4 tacos. D) 3 apples and 3 tacos.
In order to achieve a high economic freedom rating, a country must
a. provide secure protection of privately owned property and evenhanded enforcement of contracts. b. refrain from creating barriers that limit domestic and international trade. c. rely more fully on markets rather than governments to allocate goods and resources. d. all of the above.
Suppose that the current money market equilibrium features an interest rate of 5 percent and a quantity of $2 trillion. If the Fed raises the discount rate, which of the following is most likely to be the new money market equilibrium?
A. An interest rate of 6 percent and a quantity of $1.5 trillion. B. An interest rate of 5 percent and a quantity of $2 trillion. C. An interest rate of 4 percent and a quantity of $2.5 trillion. D. An interest rate of 3 percent and a quantity of $3 trillion.
Refer to the information provided in Figure 2.2 below for the economy of Microland to answer the question(s) that follow.
Figure 2.2Refer to Figure 2.2. Full resource employment and production efficiency is represented by a point
A. inside the production possibility frontier. B. outside the production possibility frontier. C. either inside or along the production possibility frontier. D. along the production possibility frontier.