Refer to the information provided in Figure 2.5 below to answer the question(s) that follow. Figure 2.5Refer to Figure 2.5. For this economy to move from Point B to Point C so that an additional 20 OLED televisions could be produced, production of LCD televisions would have to be reduced by

A. more than 30.
B. exactly 60.
C. fewer than 30.
D. exactly 30.


Answer: A

Economics

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Real GDP per person averaged $150 a year (in 2009 dollars) from 1,000,000 BC until 1620. Then in ________ real GDP began to increase without limit and by 1850 had risen to twice its 1650 level because ________

A) 1650; the Pilgrims arrived in the Americas B) 1750; Columbus arrived in the Americas C) 1650; of the Industrial Revolution D) 1750; of the Industrial Revolution E) 1776; United States was founded

Economics

Since the minimum wage rate began it has typically stayed at about what percentage of the average manufacturing wage?

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Economics

Which of the following statements is most accurate about ownership of household goods, such as flush toilets, refrigerators, televisions, clothes dryers and automobiles?

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Economics

According to the rational expectations theory, people's predictions about the future course of governmental economic policy influence the position of the short-run aggregate supply curve

a. True b. False Indicate whether the statement is true or false

Economics