Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4Refer to Figure 2.4. The economy moves from Point A to Point D. This could be explained by
A. an increase in economic growth.
B. a change in society's preferences for motorcycles versus hybrid cars.
C. a reduction in unemployment.
D. an improvement in technology.
Answer: B
You might also like to view...
Random walk theory says
A. throwing darts will pick winners. B. random selection of stocks will do as well as other methods of stock choice. C. speculation cannot lose if you wait long enough. D. investment in stocks cannot be profitable.
If bicycles can be sold for $100 each, and the marginal product of hiring a third worker is 2 bicycles, then the marginal revenue product from hiring that worker is
a. 2 bicycles b. $200 c. $100 d. $1,000 e. $300
nder the Bretton Woods system, ______.
a. governments maintained stable exchange rates by buying or selling currencies or reserves b. exchange rates were very flexible and experienced little government intervention c. governments allowed exchange rates to fluctuate freely d. market forces totally determined exchange rates
Disembodied technical change results in
A. an increase in the labor supply. B. a change in the production process. C. embodied technical change. D. population growth.