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

Economics

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Based on the figure below. Starting from long-run equilibrium at point C, a tax cut that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies. 

A. D; C B. B; C C. B; A D. D; B

Economics

Which of the following goods would most likely be an inferior good?

A. steak B. theater tickets C. French wines D. generic detergent

Economics

How many dollars would it cost to buy an Edinburgh Woolen Mill sweater costing 50 British pounds if the exchange rate is 1.50 dollars per one British pound?

A) 50 dollars B) 60 dollars C) 70 dollars D) 80 dollars E) 75 dollars

Economics

The key endogenous variable in endogenous growth theory is ________

A) the level of technology B) the productivity of research and development C) the growth rate of output D) the level of per capita income

Economics