In the above figure, the competitive unregulated equilibrium is producing and consuming ________ tons of paper at a price of ________ per ton

In the classical model, real Gross Domestic Product (GDP) per year is

A) determined by supply and demand conditions together. B) supply determined. C) demand determined. D) due to supply conditions plus the extent of government intervention in the economy.

Which of the following is NOT an example of the opportunity cost of investing in human capital?

A) lost wages while in school B) lost wages while in on-the-job training C) tuition payments D) apartment rent while working and going to school part-time