Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The economy is currently at Point B. The opportunity cost of moving from Point B to Point A is the
A. 120 LCD TVs that must be forgone to produce 20 additional OLED TVs.
B. 30 LCD TVs that must be forgone to produce 40 additional OLED TVs.
C. 20 OLED TVs that must be forgone to produce 30 additional LCD TVs.
D. 40 OLED TVs that must be forgone to produce 120 additional LCD TVs.
Answer: C
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The principal-agent problem is the issue of inducing
A) agents and principals to work hard. B) principals to act in the best interests of agents. C) agents to act in the best interests of principals. D) None of the above answers is correct.
If a bank keeps some of its excess reserves, the actual money multiplier
a. increases b. stays the same c. goes to zero d. decreases e. increases, then decreases
A portfolio of stocks, bonds, and other investments helps reduce the risk of investment
a. True b. False Indicate whether the statement is true or false
In the Santa Rita silver mines in Arizona in 1870, Mexican miners received about $12 per month while "American" miners received $70 . Although the wages of both groups tended to rise over time, the gap persisted until at least 1910 . Mexican and American miners did the same work and were equally productive. Economists call this pay differential
a. prejudicial differentials. b. compensating differentials. c. economic discrimination. d. Lorenz discrimination.