Use the table below to answer the following question.OutputTotal Cost0$10120228338453573698The marginal cost of producing 3 units of output is
A. $28.
B. $0.
C. $10.
D. $38.
Answer: C
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How many cars will this country import in an open economy situation?
A. 40,000 B. 60,000 C. 80,000 D. 20,000
One reason that the aggregate demand curve has a negative slope is that when the domestic price level rises,
A) firms produce more goods and services. B) firms produce fewer goods and services. C) people substitute toward more imported goods and services. D) peoples' wealth increases.
An increase in taxes will ________ consumption spending, and a decrease in transfer payments will ________ consumption spending
A) decrease; increase B) decrease; decrease C) increase; decrease D) increase; increase
The Irish production possibilities curve shifts to the left when there is
a. an increase in the Irish labor supply b. innovation in the production of Irish goods c. a civil war that destroys much of Ireland's resource base d. unemployment among Irish workers e. a choice among the Irish of more capital goods last period