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
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Refer to Game Matrix II. Which outcomes in this game are Pareto optimal?
Game Matrix II
The following questions refer to the game matrix below. Player A can play the strategies "High" and "Low," and Player B can play the strategies "Odd" and "Even."
a. The upper right-hand corner only.
b. The lower right-hand corner only.
c. Both the upper and lower right-hand corners.
d. All outcomes except the upper left-hand corner.
The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.
An increased supply of U.S. dollars on the foreign exchange market, all else equal, will result in an appreciation of the U.S. dollar
Indicate whether the statement is true or false
Which of the following is considered a nonrenewable resource?
A. Natural gas B. Sunlight C. Rivers D. Wind