Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4Refer to Figure 2.4. The economy moves from Point A to Point D. This could be explained by
A. an increase in economic growth.
B. a change in society's preferences for motorcycles versus hybrid cars.
C. a reduction in unemployment.
D. an improvement in technology.
Answer: B
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In the above figure, which curve is an indifference curve for someone who views frozen pizzas and milk as perfect complements?
A) indifference curve F B) indifference curve G C) indifference curve H D) indifference curve I
Many state and local governments find themselves faced with increasing retirement expenditures for retired government employees. These increasing expenditures will ________ GDP because they are categorized as ________
A) increase; government purchases B) increase; gross private domestic investment C) decrease; state and local government purchases D) not change; transfer payments.
Based on the Saving-Investment Diagram, if the world real interest rate declines from A to C, then the change in net exports is measured by the difference between values ________
A) G and E B) H and G plus E and D C) H and G minus E and D D) G and F plus F and E E) none of the above
During the Great Depression of the 1930s, the unemployment rate in the United States increased to more than 25% of the labor force
a. True b. False Indicate whether the statement is true or false