The portion of income which is earned in the form of wages for labor is about

A good that has social costs that exceed private costs has a quantity that is

A) too high. B) too low. C) just right. D) the best society can do.

Which of the following events in U.S. history did not create economic growth (shift the production possibilities curve outward)?

A. The Louisiana Purchase in 1803 that nearly doubled the land mass of the United States. B. Inventions of machines such as Cyrus McCormick's mechanical reaper. C. The introduction of the moving assembly line in automobile production by Henry Olds. D. The dramatic reduction in the U.S. unemployment rate from 1939 to 1941 as we prepared to enter World War II.