Refer to the information provided in Figure 6.2 below to answer the question(s) that follow.
Figure 6.2Refer to Figure 6.2. Assume Mr. Lingle?s budget is AC. At which point does Mr. Lingle spend exactly his income?
A. A.
B. B.
C. C.
D. All of the above are correct.
Answer: D
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Which of the following is a flow?
A. Assets B. Saving C. Money D. Wealth
If a country produces only two goods, it is possible to have a comparative advantage in the production of both those goods
Indicate whether the statement is true or false
As productivity in the manufacturing sector increases, the service sector must keep pace or it will become more expensive in the long run.
Answer the following statement true (T) or false (F)
When people are considered risk averse, they:
A. generally have a high willingness to take on risk. B. generally have a low willingness to take on risk. C. will only participate in low-risk activities. D. will never accept risk in any situation.