In Figure 23.1, for a good with no externality, which area represents the total revenue to the producer? 

Which of the following would be most appropriate if the Federal Reserve wanted to increase the money supply in order to stimulate the economy?

a. Buy U.S. government securities. b. Force the Treasury to reduce the national debt. c. Raise the discount rate. d. Increase the reserve requirements.

Which of the following is NOT illustrated by a production possibility curve?

a. scarcity b. opportunity cost c. necessity for choice d. price