The above table shows the marginal benefit from submarines for the only two citizens of a country. Submarines are a public good. If submarines cost $300 a piece, what is the efficient quantity to produce?

Production possibilities frontiers curve when they are charted on a graph because they show:

a) the underutilization of resources b) the maximum output of goods and services c) the increasing costs resulting in increasingly less output d) the technological level of the economy's productivity

Federal Reserve policy tools include all of the following EXCEPT

A) desired reserve ratios. B) required reserve ratios. C) the discount rate. D) open market operations.