Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4Refer to Figure 2.4. The economy moves from Point E to Point B. This could be explained by
A. a change in society's preferences for hybrid cars versus motorcycles.
B. an increase in economic growth.
C. an increase in unemployment.
D. a reduction in unemployment.
Answer: A
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A positive externality ________
A) gives rise to external benefits B) leads to increasing returns to scale C) imposes an additional cost on the society D) leads to higher economic profit
If an American firm opens a production facility in India, the total value of the production will be included in the
A) national income of the United States. B) gross domestic product of India. C) gross domestic product of the United States. D) national income of India.
The following are impediments to economic growth EXCEPT
A) dead capital. B) increased education. C) lack of economic freedom. D) bureaucratic inefficiency.
Diseconomies of scale are associated with
A. an upward-sloping long-run average cost curve. B. a horizontal long-run average cost curve. C. a downward-sloping long-run average cost curve.