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 E necessarily represents
A. only motorcycles being produced.
B. overallocation of resources.
C. an impossible production point.
D. technological advancement.
Answer: A
You might also like to view...
A monopolistically competitive industry is like a purely competitive industry in that
A. each industry produces a standardized product. B. nonprice competition is a feature in both industries. C. firms in both industries face a horizontal demand curve. D. neither industry has significant barriers to entry.
Which of the following statements explains the vicious circle of poverty?
a. By investing in education and infrastructure at the same time, the country can overcome the problems of poverty. b. Poverty arises out of the lack of investment, but countries cannot invest because they are poor. c. A nation can shift its production possibilities curve inward by shifting more resources into the production of capital goods. d. A nation can shift its production possibilities curve outward by shifting more resources into the production of consumer goods. e. There are dual economies in the world: Some are meant to be rich and others are meant to be poor.
What causes inflation?
A. An increase in nominal GDP. B. An increase in real interest rates. C. An increase in the money supply. D. An increase in real GDP.
Public assistance programs:
A. provide the same amount of support to families in poverty in every state of the United States. B. are available only to single-parent families with at least three children. C. are means-tested social programs targeted to the poor and providing financial, nutritional, and housing assistance. D. are not means-tested and are targeted to the public.