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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The first bank chartered in the United States was the
a. First National Bank of the United States b. First National Bank of Boston c. First National Bank of New York d. Bank of North America e. Federal Reserve
The financial sector makes the real sector in a modern economy possible.
Answer the following statement true (T) or false (F)
A financial bubble starts to inflate when:
A. investors become irrationally pessimistic that an asset needs to be sold immediately. B. investors become irrationally optimistic that an asset's price will continue to rise. C. inflation begins to accelerate, and monetary and fiscal policy are ineffective at slowing its growth. D. a good experiences an unexplained rise in demand increasing its price.
Earth Movers & Shakers operates 3 iron ore mines. The table below shows each mine's total daily production and the current number of miners at each mine. All miners work for the same wage, and each miner in any given mine produces the same number of tons per day as every other miner in that mine. Total TonsPer DayNumber ofMinersMother Lode10025Scraping Bottom3010Middle Drift7515Suppose Earth Movers & Shakers needs to fill an order for 60 tons of ore in a single day. If it has no other orders for that day, it should:
A. take 30 tons from Scraping Bottom and 30 tons from Middle Drift. B. take it all from Middle Drift. C. take 20 tons from each of the three mines. D. take it all from Mother Lode.