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 economy is currently at Point A. The opportunity cost of moving from Point A to Point B is the
A. 30 LCD televisions that must be forgone to produce 60 additional OLED televisions.
B. 90 LCD televisions that must be forgone to produce 20 additional OLED televisions.
C. 30 LCD televisions that must be forgone to produce 20 additional OLED televisions.
D. 120 LCD televisions that must be forgone to produce 40 additional OLED televisions.
Answer: C
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If a series of major technological breakthroughs occur in the economy at the same time, then the most likely outcome would be that the economy's
a. investment curve will shift downward b. investment curve will shift upward c. consumption curve will shift downward d. consumption curve will shift upward e. position along the existing investment curve will move upward
What are the determinants of elasticity of supply?
Which of the following industries has the highest concentration ratio?
a. dresses b. apples c. books d. cigarettes
________ are deducted from paychecks to support Social Security and Medicare
a. Property taxes b. Corporate taxes c. Payroll taxes d. Sales taxes