Firms in a given industry are affected by the tariff imposed on the product they sell, but not by the tariffs imposed on their purchased inputs.

The slope of a typical production possibilities frontier reflects the fact that

a. some systems of market organization are more efficient than others. b. the invisible hand always functions smoothly in a market system without government intervention. c. when resources are allocated efficiently, it's impossible to produce more of anything without producing less of something else. d. production is only possible when resources are allocated efficiently.

Borrowing VCU3 from an online company cause the nation's:

a. Monetary base to fall. b. M2 money supply to rise. c. M2 money multiplier to fall. d. Monetary base to remain the same.