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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The utility from a specific product is
A. determined by a consumer's income. B. constant as one consumes more units of it. C. determined by the price of the product. D. a measure of one's preference or taste for it.
Refer to the scenario above. The net present value of the investment in Plan 4 is equal to:
A) -$8,001. B) -$556. C) -$791. D) -$3,737.
If the nominal interest rate is higher than the real interest rate, then inflation must be:
A. zero. B. higher than the nominal rate of interest. C. positive. D. negative.
In which year did GDP growth in Greece fall below -6 percent?
A. 2003 B. 2009 C. 2005 D. 2011