rutgers micro exam 1 | Questions and Correct Answers | Latest Update 2024/2025

rutgers micro exam 1 | Questions and Correct Answers | Latest Update 2024/2025 the incidence of a tax: - Answer -refers to how much of the tax is actually paid by consumers and producers points beyond the production-possibility frontier - Answer -are unattainable with current resources the circular-flow diagram shows the flow of ____ and the flow of _______ - Answer -money; goods and services when a nations economy grows: - Answer -its production possibility frontier shifts outward a Pigouvian subsidy is: - Answer -designed to encourage activities generating external benefits a choice is made _____ is a choice whether to do a little more or a little less of something - Answer -at the margin consumer surplus is represented by the area _____ the demand curve and _____ the market price -