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 B to Point D, the opportunity cost of motorcycles, measured in terms of hybrid cars,
A. increases
B. remains constant.
C. initially increases, then decreases.
D. decreases.
Answer: A
You might also like to view...
The demand curve for an inferior good can never be downward sloping
Indicate whether the statement is true or false
All of the following are possible consequences of noise traders EXCEPT
A) increased volatility in the financial market. B) asset prices differing from fundamental values. C) herd behavior contributing to speculative bubbles. D) reduced volatility of asset prices.
President Nixon "closed the gold window"
a. as a political expediency b. to force the allies to devalue their currencies c. to try to save the Bretton Woods exchange rate system d. to halt dramatic inflows of gold into the United States e. to cure the U.S. domestic deflationary spiral
According to 2014 data on the U.S. population, which of the following was correct?
a. Adults of prime working age (ages 25-54) had both higher labor-force participation rates and higher rates of unemployment compared to teenagers. b. Adults of prime working age (ages 25-54) had higher labor-force participation rates and lower rates of unemployment compared to teenagers. c. Adults of prime working age (ages 25-54) had both lower labor-force participation rates and lower rates of unemployment compared to teenagers. d. Adults of prime working age (ages 25-54) had lower labor-force participation rates and higher rates of unemployment compared to teenagers.