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 E to Point B. This could be explained by
A. a change in society's preferences for hybrid cars versus motorcycles.
B. an increase in economic growth.
C. an increase in unemployment.
D. a reduction in unemployment.
Answer: A
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In the short run
a. firms can enter the industry but no firm can exit. b. firms can exit the industry but no firm can enter. c. firms can enter and exit the industry. d. no firm can enter or exit the industry.
The slope of an isocost line is equal to:
A. -(wage rate/rental rate of capital). B. (wage rate/rental rate of capital). C. -(rental rate of capital/wage rate). D. (rental rate of capital/wage rate).
The interest rate that the Fed charges when it lends reserves to banks is called the federal funds rate
Indicate whether the statement is true or false
Figure 4.5 illustrates a set of supply and demand curves for hamburgers. A decrease in supply and a decrease in quantity demanded are represented by a movement from:
A. point a to point d. B. point c to point d. C. point c to point a. D. point b to point c.