Exhibit 2.2​Refer to Exhibit 2.2, which shows the production possibilities frontier for Good A and Good B. If all of the economy’s resources are used efficiently to produce only Good B, then the economy will be at point _____.

Natural resources _____

At all points along the production possibilities frontier, _____

Table 4.3The table below shows the quantity supplied and the quantity demanded of a good at different prices. If the market price of the good is $1.20, there will be a _____.

Which of the following have their profits taxed twice?

Economists assume that the objective of households is to _____

According to the law of supply, the quantity supplied is _____ related to price, other things constant.

A quota is _____

A system which is characterized by the private ownership of resources and the use of prices to coordinate economic activity in unregulated markets is known as a _____

A product that is produced in China and sold in the United States is called a(n) _____