A situation in which a country does not trade with other countries is called

In the above table, when output increases from 8 to 12 units, the marginal cost of one of those 4 units is

A) $1.20. B) $2.00. C) $5.00. D) $15.00.

Suppose you read in the Irish daily the Dublin Telegraph that saving in Ireland in 2003 was precisely the intended investment Irish businesses had hoped to make. You would conclude that in 2003, the Irish economy was

a. not in equilibrium, and its national income fell b. not in equilibrium, and its national income rose c. in equilibrium, and its national income fell d. in equilibrium, and its national income rose e. in equilibrium, and no change occurred in its national income