If the farmer is producing 5000 bushels of soybeans at point "b" in the above figure, we know that
A) the farmer is not using his resources efficiently.
B) the farmer is using his land to produce a crop other than soybeans or corn.
C) the farmer must be using more land than was used in constructing the production possibilities curve.
D) the farmer is using his resources efficiently.
A
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The simultaneous imposition of a 3 cent sales tax and a 5 cent excise tax on the sale of a cup of coffee would have the same effect on coffee sales as:
a. a 2 cent subsidy. b. a 2 cent excise tax . c. a 3 cent excise tax . d. an 8 cent excise tax.
The process of a government intervening to maintain the value of their exchange rate after shock to their economy is known as
A) sterilization. B) preventative therapy. C) beggar-thy-neighbor policies. D) the liquidity effect.
The "Four Freedoms" do NOT include the right to
A) vote in local elections. B) migrate within the EU. C) write insurance policies throughout the EU. D) open bank accounts anywhere in the EU. E) move goods from one country to another inside the EU.
The vertical intercept of the consumption function that represents the portion of consumption expenditure not associated with a level of disposable income is known as:
a. zero income intercept. b. disposable income intercept. c. autonomous consumption. d. automatic consumption line.