Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The best point for society would be
A. either Point B or Point C, as the total amount being produced at either of these points is approximately the same.
B. at any of the labeled points, as all of the points represent an efficient allocation of resources.
C. Point C, as at this point there are approximately equal amounts of LCD and OLED televisions being produced.
D. indeterminate from this information, as we don't have any information about the society's desires.
Answer: D
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Transfer payments are money received as grants from government.
Answer the following statement true (T) or false (F)
Holding all else constant, an increase in U.S. real GDP will ________ the supply for dollars in the foreign exchange market and ________ the equilibrium Mexican peso/U.S. dollar exchange rate.
A. decrease; increase B. decrease; decrease C. increase; increase D. increase; decrease
Is the United States a net borrower or a net lender? Is it a debtor or a creditor nation?
What will be an ideal response?
The opportunity cost of receiving $10 in the future as opposed to getting that $10 today is:
A. the taxes paid on any earnings. B. the foregone interest that could be earned if you had the money today. C. the value of $10 relative to the total income of that person. D. the value of $10 relative to the total income of all persons.