If an economy is fully utilizing its resources, it can produce more of one product only if it:
A. doubles manufacturing of the product.
B. produces less of another product.
C. adds more people to the labor force.
D. reduces the prices of the most expensive products.
Answer: B
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All of the following changes characterize the postwar agricultural sector except:
a. the rise of corporate farms. b. increasing reliance on expensive, large-scale machinery. c. innovations by federal and state laboratories that increased output. d. increasing numbers of tenant farms in the South.
Referring to Figure 1.5, the opportunity cost of producing the first unit of pizza is 
A. six units of soda. B. three units of soda. C. one unit of soda.
Of the following, who gains from a tariff?
A) the government of the importing country B) the government of the exporting country C) consumers in the importing country D) producers in the exporting country E) both the government of the exporting country and the government of the importing country
If a market system is functioning well, we can conclude that goods with
a. high opportunity costs tend to have high money costs. b. low opportunity costs tend to have high money costs. c. high opportunity costs tend to have low money costs. d. low opportunity costs tend to have zero money costs. e. high opportunity costs tend to have zero money costs.