Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point A to Point B, ________ additional OLED TVs could be produced when the production of LCD TVs is reduced by 30.
A. exactly 20
B. more than 20
C. fewer than 20
D. exactly 90
Answer: A
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Suppose that business firms spend $500 million on new capital equipment this year. Of this $500 million, $300 million was spent on domestically produced capital and $200 million was spent on foreign-produced capital
All else equal, these transactions contribute ________ to GDP. A) $500 million B) $300 million C) $800 million D) $200 million E) $0
Which of the following is the largest?
a. the future value of $250 with 3% interest for 2 years b. the future value of $250 at 2% interest for 3 years c. the present value of $250 to be paid in two years when the interest rate is 3% d. the present value of $250 to be paid in three years when the interest rate is 2%
When the price of almonds falls
A) the quantity of almonds demanded increases, ceteris paribus. B) the demand for almonds decreases, ceteris paribus. C) the demand for almonds increases, ceteris paribus. D) the quantity of almonds demanded decreases, ceteris paribus.
If compared against other criteria for evaluating the public interest, the social welfare function is most comparable to _____
a. utilitarianism b. the Pareto criteria c. the potential compensation criterion d. cost-benefit analysis