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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The above figure shows the demand curve for movie rentals from Redbox. If Redbox lowered its price from $4.00 to $3.50, then total revenue would ________ because demand is ________
A) decrease; elastic B) increase; elastic C) decrease; inelastic D) increase; inelastic
Most developing countries have tried to
A) liberalize capital movement. B) control capital movements. C) Hard to tell from the data. D) in the 1960s and 1970s control, now to liberalize. E) in the 1960s and 1970s liberalize, now to control.
In the IS-MP model, when the Fed increases the real interest rate
A) the MP curve shifts up resulting in a decline in the output gap. B) the MP curve shifts up resulting in an increase in the output gap. C) the MP curve shifts down resulting in a decline in the output gap. D) the MP curve shifts down resulting in an increase in the output gap.
The most successful free trade agreements achieve all of the following goals, except:
a. benefiting exporters by increasing exports to member countries. b. ensuring that production occurs on the basis of comparative advantage. c. benefiting consumers by making a wider variety of goods available at a lower price. d. stimulating trade creation to allow the benefits of trade to be realized. e. protecting domestic industries from foreign competition.