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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Under monopsony, the marginal factor cost of a worker is equal to
A) the additional worker's wage rate only. B) the additional worker's wage rate plus the increase in the wages of all other existing workers. C) the increase in the wages of all other existing workers. D) the difference between the worker's wage rate and the lower wage rate received by workers who have already been hired.
Economic goods are: a. only those commodities priced in monetary terms
b. scarce products that are created from scarce resources. c. the opposite of normative economic goods. d. not subject to scarcity.
If loans are $300,000 . demand deposits are $600,000 . and the legal reserve requirement is 40 percent, then excess reserves are
a. $360,000 b. $240,000 c. $120,000 d. $60,000 e. $30,000
The Federal Reserve Bank was modeled after the European Central Bank.
Answer the following statement true (T) or false (F)