Figure 18.2Refer to Figure 18.2. After trade and specialization begin, the maximum amount of spears that Macadamia can consume is:
A. 40.
B. 100.
C. 120.
D. 160.
Answer: D
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The above figure shows the PPF for a country that produces computers and computer factories. The nation's production possibilities frontier is PPF0 . At which of the following production points would the economy grow most rapidly?
A) Point A B) Point B C) Point C D) It makes no difference among the three points because they are all production efficient. E) More information is needed to answer the question.
Superstars earn high incomes due to their ability to satisfy the demands of millions of people at once
a. True b. False Indicate whether the statement is true or false
Refer to Figure 13.2. If the figure is viewed as a two-player game between Oliver and George, there would be
A) no Nash equilibria. B) one Nash equilibrium where both players end up at the M position. C) two Nash equilibria, one where Oliver ends up at position L4 and George ends up at position C4, and one where both players end up at position M. D) five Nash equilibria, each represented by the two players ending up an equal distance from M.
In the above figure, which movement illustrates the impact of the price level and money wage rate falling at the same rate?
A) E to H B) E to K C) E to J D) E to G