Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point A necessarily represents
A. only hybrid cars being produced.
B. an unattainable production point.
C. what society wants.
D. the economy's optimal production point.
Answer: A
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Forecasts based on the extrapolation of observed trends and relationships are likely to be accurate, if ________
A) changes in expectations are properly considered B) policy actions are anticipated C) economic behavior is guided by rational expectations D) policy changes are understood to be permanent
The long-run equilibrium for a firm in an information product industry exists at a point at which
A) marginal cost equals marginal revenue. B) the demand curve crosses the marginal cost curve. C) the demand curve is tangent to the average total cost curve. D) average total cost is minimized.
Refer to the information provided in Figure 30.1 below to answer the question(s) that follow.
Figure 30.1Refer to Figure 30.1. Growth in aggregate output causes a ________ through the accelerator effect.
A. shift from I3 to I1 B. movement from Point A to Point C C. shift from I2 to I1 D. movement from Point A to Point B
If the value of non-cash assistance to the poor were included in their income
A. the official number of persons classified as poor would be higher. B. the official number of persons classified as poor would be lower. C. the poverty income threshold would decrease. D. the poverty income threshold would increase.