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 A to Point E, the opportunity cost of motorcycles, measured in terms of hybrid cars
A. remains constant.
B. decreases.
C. initially increases, then decreases.
D. increases.
Answer: D
You might also like to view...
If the supply of labor increases while demand for labor is unchanged,
A) the real wage and labor productivity will increase. B) the real wage will decrease and labor productivity will increase. C) the real wage will increase and labor productivity will decrease. D) the real wage and labor productivity will decrease.
When price was 6, quantity demanded was 10. When price decreased to 5, quantity demanded increased to 13. Therefore, when price decreased, total revenue
A. decreased from 65 to 60, indicating that demand is inelastic. B. decreased from 65 to 60, indicating that demand is elastic. C. increased from 60 to 65, indicating that demand is inelastic. D. increased from 60 to 65, indicating that demand is elastic.
Tax multiplier:
What will be an ideal response?
An economic principle that explains why people pursue different occupations is
A) NAFTA. B) international trade. C) absolute advantage. D) comparative advantage.