Rutgers micro exam 1 2024 - Study guides, Class notes & Summaries
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rutgers micro exam 1 | Questions and Correct Answers | Latest Update 2024/2025
- Exam (elaborations) • 5 pages • 2024
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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 ...
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