1.The purpose of generating exports for a national economy is to:

Group of answer choices

a) accumulate as much monetary wealth as possible

b) create jobs for manufacturing and transportation workers

c) increase the tax base for collecting tariffs from foreign buyers

d) provide income to import lower cost foreign products

2.A firm's demand curve for a factor of production (resource or input) slopes downward because of the law of:

Group of answer choices

a) diseconomies of scale

b) increasing costs of specialization

c) diminishing marginal product

d) diminishing marginal utility

3.The official poverty line in the U.S. is:

Group of answer choices

a) three times the Agriculture Department's minimum food budget

b) the level of income earned by a person working full time and receiving the minimum wage

c) he money income needed to purchase food, clothing and shelter

d) the minimum payment made to persons eligible for Social Security benefits