Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point A to Point E, the opportunity cost of motorcycles, measured in terms of hybrid cars
A. remains constant.
B. decreases.
C. initially increases, then decreases.
D. increases.
Answer: D
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Open market operations are an appropriate tool for day-to-day changes in monetary policy
Indicate whether the statement is true or false
The more bowed out the Lorenz curve is, the
A) more equal the distribution of income. B) less equal the distribution of income. C) richer the society. D) poorer the society.
Suppose that because of climatic conditions, the smog levels in Los Angeles suddenly soar to dangerous levels. The most successful policy in this case would be
A. direct controls to limit driving. B. taxes on drivers at rush hours. C. voluntary cooperation to reduce driving. D. removal of autos with excessive emissions.
The number of people willing to buy tickets to the Super Bowl is invariably greater than the number of tickets (and seats) available. This is evidence that the price of the tickets is
What will be an ideal response?