Three of the four following questions are indicative of the three fundamental economic questions. Leaving out the irrelevant question, rearrange the three relevant questions in the order an economy must answer them. 
 - How should hybrid cars be produced? 
 - Should corn be produced in the North or in the South?
 - Who drives hybrid cars?
 - Should more hybrid cars and fewer SUVs be produced?

A. 1. Should more hybrid cars and fewer SUVs be produced? 2. Should corn be produced in the North or in the South? 3.  How should hybrid cars be produced?
B. 1. Who drives hybrid cars? 2. Should more hybrid cars and fewer SUVs be produced? 3. Should corn be produced in the North or in the South?
C. 1. Should more hybrid cars and fewer SUVs be produced? 2. How should hybrid cars be produced/ 3. Who drives hybrid cars
D. 1.  How should hybrid cars be produced 2. Should more hybrid cars and fewer SUVs be produced? 3. Should corn be produced in the North or in the South?

Answer: C

Economics

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To help pay for the cost of sport related injuries, the government imposes a tax on sellers of all sports equipment. Referring to the above figure, the area that equals the tax revenue the government raises from this tax on sports equipment is

A) P1P3ed. B) ecd. C) P0P2ca. D) P1P2cb.

Economics

Gross Domestic Product is a monetary measure of

a. total consumption in the economy. b. the total value of all final goods and services. c. total industrial output. d. the total value of all foreign sales and purchases.

Economics