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 B. The opportunity cost of moving from Point B to Point A is the
A. 120 LCD TVs that must be forgone to produce 20 additional OLED TVs.
B. 30 LCD TVs that must be forgone to produce 40 additional OLED TVs.
C. 20 OLED TVs that must be forgone to produce 30 additional LCD TVs.
D. 40 OLED TVs that must be forgone to produce 120 additional LCD TVs.
Answer: C
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Indicate whether the statement is true or false
The Bulgarian currency, the lev, is pegged to the euro at a rate of 1.96 leva (leva is the plural of lev) to the euro. At the pegged exchange rate, how many euros would be exchanged for one lev?
A) 0.51 B) 1.00 C) 1.96 D) 3.84
When the economy slows down the:
A. supply of workers increases. B. demand for workers increases. C. demand for workers decreases. D. supply of workers decreases.
A specific type of loan that is used to buy real estate:
a. mutual fund b. mortgage c. millage note d. deed bond