If potential output for an economy equals $8 billion and actual output equals $7 billion, then this economy's output gap should be expressed as:

Northeastern farmers responded to increasing western competition in the 1800s by

a. reducing grain cultivation. b. increasing production of dairy products. c. growing hay to feed city horses. d. moving to the city or the West. e. All of the above.

What's the firm's current contribution margin?

a. $15 b. $18 c. $3 d. $4