Suppose an oil company wants to make its total revenue as large as possible. It should charge a price at which the demand for oil is:

Most macroeconomic variables that measure some type of income, spending, or production fluctuate very separately from each other.

a. true b. false

The figure above shows the production possibilities frontiers for the United Kingdom and France. If the United Kingdom and France specialize and engage in trade, the United Kingdom will produce ________ and France will produce ________

A) wheat; wheat B) wheat; fish C) fish; wheat D) fish; fish E) both wheat and fish; both wheat and fish