Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point D to Point B, the opportunity cost of hybrid cars, measured in terms of motorcycles,
A. initially increases, then decreases.
B. increases.
C. remains constant.
D. decreases.
Answer: B
Economics
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In economics, the factor of production "land" includes all of the following EXCEPT
A) animals, birds, and fish. B) energy. C) wild plants. D) oil. E) plastics.
Economics
Explain the "tragedy of commons."
What will be an ideal response?
Economics
Which of the following does not increase U.S. aggregate demand?
a. an increase in real wealth b. lower interest rates c. an increase in imports d. a decrease in the exchange rate value of the dollar
Economics
Thomas Malthus's model made the mistake of failing to consider:
A. comparative advantage. B. scarcity. C. technological progress. D. inflation.
Economics