A _______ demand curve has a price elasticity of demand that is perfectly elastic

Refer to the scenario above. The opportunity cost of producing one pound of oranges in Beta is:

A) 1/2 pounds of apples. B) 5 pounds of apples. C) 2 pounds of apples. D) 1 pound of apples.

When the government cuts the income tax rate, the real wage rate paid by employers ________ and the real wage rate received by workers ________ and potential GDP ________

A) increases; increases; increases B) decreases; decreases; increases C) increases; decreases; increases D) decreases; increases; decreases E) decreases; increases; increases