Suppose a scientific breakthrough made free solar power available in unlimited quantities in the United States. The effect of this invention would be to move the
A) United States beyond its production possibilities frontier.
B) United States inside its production possibilities frontier.
C) U.S. production possibilities frontier outward.
D) U.S. production possibilities frontier inward.
C
Economics
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Refer to the above figure. A unit tax has been placed on the good. The producer pays what amount of the tax?
A) none of the tax B) P2 - P0 C) P2 - P1 D) P1 - P0
Economics
In a prison, cigarettes are used as a medium of exchange. In this scenario, a cigarette is an example of: a. near money
b. fiat money. c. fiduciary money. d. commodity money.
Economics