In 1994, the Republicans' "Contract with America" encompassed economic provisions that drew upon the ideas of

At the quantity of 200 bushels of apples, the marginal social benefit of a bushel of apples is $100 and the marginal social cost is $50. To produce the efficient quantity of apples

A) more apples should be produced. B) fewer apples should be produced. C) there should be no change in the amount of apples produced. D) More information on the willingness of consumers to purchase apples is needed to determine the efficient level of apples.

If net exports are negative,

A) net foreign investment is positive. B) capital inflows must be less than capital outflows. C) net foreign investment is also negative. D) Both A and B are correct.