U.S. consumers would be better off if they bought only U.S.-produced goods
a. True
b. False
B
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The marginal cost curve is U-shaped. Over the range of output for which the marginal cost is falling as output increases, the marginal product is
A) increasing. B) decreasing. C) constant. D) probably changing, but there is no stable relationship between the marginal cost and the marginal product. E) not defined.
In the figure above, if pizza production is restricted to 5,000 pizzas a day, then marginal benefit ________ marginal cost, and ________ occurs
A) exceeds; overproduction B) exceeds; underproduction C) is below; overproduction D) is below; underproduction E) exceeds; efficient production
Refer to Figure 4-1. What is the total amount that Arnold is willing to pay for 2 burritos?
A) $2.00 B) $4.50 C) $7.50 D) $10.00
What is the first round effect on the components of aggregate demand, if the government increases spending (assume fixed exchange rates and financing through the real credit market)?
a. Aggregate demand increases and net exports decrease. b. Aggregate demand and net exports do not change c. Aggregate demand decreases and net exports increases. d. Aggregate demand and net exports increase. e. Aggregate demand and net exports decrease.