Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The best point for society would be
A. either Point B or Point C, as the total amount being produced at either of these points is approximately the same.
B. at any of the labeled points, as all of the points represent an efficient allocation of resources.
C. Point C, as at this point there are approximately equal amounts of LCD and OLED televisions being produced.
D. indeterminate from this information, as we don't have any information about the society's desires.
Answer: D
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A) domestic securities and bills B) currency notes C) bank reserve deposits D) government deposits
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Indicate whether the statement is true or false
When can two countries gain from trading two goods?
a. when the first country can only produce the first good and the second country can only produce the second good
b. when the first country can produce both goods, but can only produce the second good at great cost, and the second country can produce both goods, but can only produce the first good at great cost
c. when the first country is better at producing both goods and the second country is worse at producing both goods
d. Two countries could gain from trading two goods under all of the above conditions.
In an attempt to restrict imports into a country, using a tariff is likely to be less costly to the country than using a voluntary export restraint.
Answer the following statement true (T) or false (F)