The study of how consumers and producers interact in individual markets is

When economists talk about growth in the economy, they measure that growth as the

a. absolute change in nominal GDP from one period to another. b. percentage change in nominal GDP from one period to another. c. absolute change in real GDP from one period to another. d. percentage change in real GDP from one period to another.

Figure 34-7 ? In Figure 34-7, AB represents the production possibilities of Pestoland and CD that of Pastaland. Pestoland has a comparative advantage in pasta because it

A. gets more pasta from a given decline in pesto than Pastaland does. B. gets more pesto from a given decrease in pasta production. C. can produce more pasta than Pastaland. D. can produce more pasta and pesto than Pastaland.