The following table provides data for an economy in a certain year.  Consumption expenditures1,000Imports600Government purchases of goods and services700Construction of new homes and apartments500Sales of existing homes and apartments600Exports500Government payments to retirees200Household purchases of durable goods300Begining-of-year inventory500End-of-year inventory600Business fixed investment300Given the data in the table, how much did households spend on nondurables and services?

The table above shows the production possibilities for an economy. When the economy produces a combination of 900 books and 50 loaves of bread,

A) production efficiency occurs because resources are not overused. B) allocative efficiency is achieved because both goods are produced. C) production efficiency is not achieved. D) allocative and production efficiency are both achieved. E) production efficiency is not achieved but allocative efficiency might be achieved.

Consider the monopsony in the above figure. The monopsony will hire ________ hours per week

A) 200 B) 400 C) 600 D) None of the above answers is correct.