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 D to Point B, the opportunity cost of hybrid cars, measured in terms of motorcycles,
A. initially increases, then decreases.
B. increases.
C. remains constant.
D. decreases.
Answer: B
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The Herfindahl-Hirschman Index for a monopoly is
A) 1. B) 100. C) 10,000. D) undefined.
(Consider This) According to the Council of Economic Advisers:
A. skilled immigrants regularly displace domestic-born workers. B. skilled immigrants pay more in taxes than they receive in services from the government. C. immigration is a net drain on the U.S. economy and should be more tightly restricted. D. children of immigrants frequently lack the skills to perform well academically, particularly in math and science.
In 2008-2010, American policy makers decided to risk
a. higher inflation for the sake of decreasing unemployment. b. higher unemployment to hold down inflation. c. increasing taxes for the sake of reducing the budget deficit. d. reducing government spending for the sake of balancing the budget.
What happens when the supply of a nonperishable good is greater than the consumer wants to buy?
What will be an ideal response?