What is the usual shape of the production possibilities curve?
a. upward-sloping
b. bowed-out from the origin
c. bowed-in from the origin
d. a straight-line, downward-sloping curve
e. U-shaped
B
Economics
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Refer to Figure 9-2. If the tariff was replaced by a quota which limited rice imports to 16 million pounds, the amount of revenue received by rice importers would equal
A) $19.8 million. B) $16 million. C) $9.6 million. D) $6.4 million.
Economics
Which of the following items is funded by both the federal and state governments?
a. Medicare b. Medicaid c. Social Security d. Supplemental Security Income
Economics