Given full-employment output = $2,800, equilibrium output = $2,500, and MPS = 0.25, which of the following changes would most likely bring the economy to a full-employment level of national output?

Consider two individuals, Nigel and Mia, who produce hair pins and bandanas. Nigel's and Mia's hourly productivity are shown in Table 3.3. Which of the following is TRUE?

A) Nigel has both an absolute and comparative advantage in bandana production. B) Nigel has both an absolute and comparative advantage in hair pin production. C) Nigel has neither an absolute nor comparative advantage in hair pin production. D) Nigel has neither an absolute nor a comparative advantage in bandana production.

To prevail in a Section 2 case of the Sherman Act, the plaintiff must satisfy all of the following requirements except which one?

A) The plaintiff must demonstrate that the defendant's success is due to unreasonable exclusionary, predatory, or other unreasonable anticompetitive conduct. B) The plaintiff must establish that the defendant has a large market share. C) The plaintiff must establish that the defendant has competed on the basis of product desirability. D) The plaintiff must appropriately define the defendant's product and geographic market.