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 C to Point B, ________ additional LCD TVs could be produced when the production of OLED TVs is reduced by 20.
A. exactly 30
B. exactly 60
C. fewer than 30
D. more than 30
Answer: C
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If the GDP deflator is less than 100, then for that year nominal GDP ________ real GDP
A) equals B) is less than C) is greater than D) may be greater than or less than
On August 15, 1971, the United States
A) returned to the gold standard. B) suspended the convertibility of dollars into gold. C) provided unlimited dollar reserves to the German central bank to help end a speculative attack on the mark. D) provided unlimited dollar reserves to the Bank of England to help end a speculative attack on the pound.
An income tax _____
a. increases the return to bearing risk, if the company is a monopolist b. has no impact on the return to bearing risk c. increases the return to bearing risk d. reduces the return to bearing risk
A statement of fact that can be verified by observation is
a. an abstraction b. a positive statement c. a normative statement d. a philosophical conundrum e. the basis of an assumption