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
You might also like to view...
An increased equilibrium price and a decreased equilibrium quantity results from a(an):
a. decrease in demand. b. increase in supply. c. decrease in supply. d. increase in demand.
Which segment of the World Bank funds the world's poorest countries—those unable to repay its standard loans—such as India, Pakistan, Bangladesh, Nigeria, and Ethiopia?
a. the International Finance Corporation b. the International Bank for Reconstruction and Development c. the International Development Association d. the Multilateral Investment Guarantee Agency
The pleasure, satisfaction, or happiness obtained from consuming a good or service is known as ___________
Fill in the blank(s) with the appropriate word(s).
According to the classical economists, an increase in unemployment
A. could not occur. B. would be made worse by a decrease in interest rates. C. would be reduced by an increase in interest rates, wages, and prices. D. would be reduced by a decrease in interest rates, wages, and prices.