Federal spending and taxation both affect and are influenced by the overall level of economic activity

An export is any good that is:

A) rationed and licensed by the government. B) produced and consumed domestically. C) produced by public-sector firms. D) produced domestically, but sold abroad.

In the figure above, the quantity of high-skilled labor employed is

A) 2,000 hours per day. B) 4,000 hours per day. C) 5,000 hours per day. D) 7,000 hours per day.