Deadweight loss measures the decrease in total surplus that results from a tariff or quota

The table above shows a nation's production possibilities frontier. The opportunity cost of a robot between combination D and E is

A) 1/4 of a pizza. B) 34 pizzas. C) 30 pizzas. D) 4 pizzas. E) undefined because neither point is production efficient.

Aggregation is the process of

A) calculating real GDP based on nominal GDP and the price index. B) summing individual economic variables to obtain economywide totals. C) forecasting the components of GDP. D) predicting when recessions will occur.