The figure above shows a nation's production possibilities frontier. In the figure, point A shows
A) the minimum quantity of pizza that the society must produce.
B) the maximum quantity of pizza that can be produced.
C) an unattainable point.
D) an attainable point with unemployed resources.
E) More information is needed to determine which of the above answers is correct.
B
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When the monopoly firm is able to charge a higher price, the amount of ________ also increases, thus magnifying the importing nation's __________.
a. quota rents; losses b. comparative advantage; gains from trade c. profits; welfare d. protection; employment gains
According to recent public opinion polls, what percentage of Americans are satisfied with the quality of the medical care they receive?
a. 15 percent. b. 40 percent. c. 65 percent. d. 70 percent. e. 90 percent.