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 E to Point A, the opportunity cost of hybrid cars, measured in terms of motorcycles
A. increases.
B. initially increases, then decreases.
C. decreases.
D. remains constant.
Answer: A
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Which of the following statements about the United States was true as of 2007?
A) It was the world's largest exporter. B) It had the world's largest deficit in its current account. C) It had the world's largest surplus in its current account. D) None of the above are true.
________ in the domestic interest rate causes the demand for domestic assets to shift to the right and the domestic currency to ________, everything else held constant
A) An increase; appreciate B) An increase; depreciate C) A decrease; appreciate D) A decrease; depreciate
The table below shows the number of labor hours required to produce one umbrella and one bushel of corn in the United Kingdom and the rest of the world. The United Kingdom has an absolute advantage in the production of Labor hours to make:In the United KingdomIn the Rest of the World1 umbrella3.002.001 bushel of corn1.000.25
A. both corn and umbrellas. B. only corn. C. only umbrellas. D. neither corn nor umbrellas.
Microeconomics studies
A. the changes in economic theory brought about by changes in the nationwide economy. B. how changes in the nation's birth rate affect its labor force. C. how changes in the money supply affect how much households consume. D. decisions made by individual consumers and firms.