In the figure above, if a tax is imposed that generates an efficient allocation of resources, then consumers will pay a price of

Of the three big questions, what, how, and for whom, which of the fol-lowing is an example of a how question?

A. Why do doctors and lawyers earn high incomes? B. Why don't we produce more small cars and fewer gas guzzlers? C. Why do we use machines rather than migrant workers to pick grapes? D. Why do college football coaches earn more than professors?

If a country produces good Y (measured on the vertical axis) and good X (measured on the horizontal axis), then the absolute value of the slope of its production possibility frontier is equal to

A) the opportunity cost of good X. B) the price of good X divided by the price of good Y. C) the price of good Y divided by the price of good X. D) the opportunity cost of good Y. E) the cost of capital (assuming that good Y is capital intensive) divided by the cost of labor.