Refer to the information provided in Figure 9.6 below to answer the question(s) that follow. 
Figure 9.6Refer to Figure 9.6. Assume this firm is in a constant-cost industry. For this firm to ________, the firm must be producing q3 units of output.
A. be experiencing diseconomies of scale
B. need to cut back on production to lower average costs
C. need to shut down
D. be in long-run equilibrium
Answer: D
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Everything else equal, if the dollar appreciates against the Chinese yuan:
A) China will stop trading with the U.S. B) China will export more to the U.S. and will import less from the U.S. C) the Chinese government will sell yuan in the foreign exchange market. D) China will import more from the U.S. and will export less to the U.S.
The British economist A. C. Pigou
a. wrote The Economics of Welfare in 1911. b. offered an explanation of the market economy's poor environmental performance. c. outlined an approach to environmental policy still in favor with economists today. d. All of the above are correct.
A tariff
a. lowers the domestic price of the exported good below the world price. b. keeps the domestic price of the exported good the same as the world price. c. raises the domestic price of the imported good above the world price. d. lowers the domestic price of the imported good below the world price.
If the price of pizza is $10 this year and $15 next year, then 200 pizzas would contribute
A. $2,000 to this year’s GDP and $2,000 to next year’s nominal GDP. B. $3,000 to this year’s nominal GDP and $3,000 to next year’s nominal GDP. C. $2,000 to this year’s nominal GDP and $3,000 to next year’s nominal GDP. D. $3,000 to this year’s GDP and $2,000 to next year’s GDP.