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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If you have a checking account at First National Bank, the account is
A) an asset to both you and First National. B) a liability to both you and First National. C) an asset to First National and a liability to you. D) an asset to you and a liability to First National.
The "work effort argument" criticizing traditional economic analyses of the minimum wage implies
A. any increase in the nominal minimum wage reduces short-run aggregate supply. B. increased real GDP should result from any increase in the nominal minimum wage. C. increased real GDP should result from any reduction in the nominal minimum wage. D. reduced real GDP should result from any increase in the nominal minimum wage.
Refer to the information provided in Figure 3.7 below to answer the following question(s).
?Figure 3.7Refer to Figure 3.7. A movement from Point A to Point B on demand curve D2 would be caused by a(n)
A. increase in the price of pizza. B. decrease in income, assuming pizza is a normal good. C. decrease in the price of pizza. D. decrease in the price of burritos, assuming that pizza and burritos are substitutes.
There has been catch-up among ________, but there has not been catch-up among ________
A) developing countries such as Niger; industrialized countries such as Japan B) developing countries such as Niger; all countries of the world C) industrialized countries such as Japan; all countries of the world D) all countries of the world together; industrialized countries such as Japan