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 A. The opportunity cost of moving from Point A to Point B is the
A. 30 LCD televisions that must be forgone to produce 60 additional OLED televisions.
B. 90 LCD televisions that must be forgone to produce 20 additional OLED televisions.
C. 30 LCD televisions that must be forgone to produce 20 additional OLED televisions.
D. 120 LCD televisions that must be forgone to produce 40 additional OLED televisions.
Answer: C
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The town of Marble Falls has 10 workers, of which 8 were employed and 2 were actively seeking work. After many months of seeking work, both of the unemployed workers became discouraged and stopped looking for work six weeks ago
The unemployment rate in Marble Falls is now A) 0%. B) 11.1%. C) 20%. D) 25%.
The market demand curve for a good is found by
a. adding up the quantities demanded by all consumers at different prices of that good b. adding up the quantities demanded by all consumers at different incomes c. adding up the maximum price each consumer is willing to pay for each possible quantity of the good d. varying consumers' total income and determining what prices they are willing to pay e. vertically summing the individual consumers' demand curves
Major U.S. exporters would be likely to oppose the sort of protectionist policies favored by domestic producers that compete with imports.
a. true b. false
The application of new technologies to the production process will increase:
A. the share of the population employed. B. average labor productivity. C. the unemployment rate. D. the quantity of human capital.