A tariff is a tax imposed on ________ good.

The point on the production possibilities curve at which an economy will operate is determined by:

A) which point produces the greatest amount of both goods. B) the demands of consumers. C) the absolute prices of the two goods. D) which point requires the fewest resources.

Utility is

A) the consumption of a quasi-public good like electricity or natural gas. B) easily measured in units called utils. C) the production of a quasi-public good like electricity or natural gas. D) subjective and difficult to measure.