Use the above figure. The long-run Phillips curve is best depicted by graph

When producing goods and services along a PPF, tradeoffs exist because

A) not all production is efficient. B) society has only a limited amount of productive resources. C) buyers and sellers often must negotiate prices. D) human wants and needs are limited at a particular point in time.

Refer to Figure 1-6. Calculate the area of the trapezoid X

A) $361 B) $450 C) $1,020 D) $1,140