Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point B to Point C so that an additional 20 OLED televisions could be produced, production of LCD televisions would have to be reduced by
A. more than 30.
B. exactly 60.
C. fewer than 30.
D. exactly 30.
Answer: A
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When MFC < MRP, a firm in a competitive market will
A) stop hiring. B) hire more workers. C) earn fewer profits. D) layoff workers.
As a result of moving more decision making from the periphery of the organization toward the center, typically
a. the flow of information to the decision maker that is relevant to the decision should be enhanced b. the flow of information from the decision maker that is relevant to the decision should be enhanced c. the incentive structure for the decision maker should be strengthened d. the incentive structure for the decision maker can be eliminated
Computers and software programs are:
a. inferior goods. b. complementary goods. c. goods with a cross-price elasticity of demand of 0. d. substitute goods. e. perfectly elastic goods.
Recent studies on the effectiveness of fiscal policy tend to suggest that the government spending multiplier is less than 1.0
a. True b. False Indicate whether the statement is true or false