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
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Which of the following contributed to the sharp increase in Federal tax revenues between 1995 and 2001?
A) an increase in income tax rates B) a sustained economic expansion C) increased income inequality D) all of the above
As of 2013, the debt of the U.S. government amounted to roughly ________ per person
A) $50,000 B) $8 million C) $500,000 D) $800
Other things remaining the same, if a large part of the population decided against having soda for health reasons, there would be a(n):
a. increase in the quantity of soda supplied. b. increase in the quantity supplied of complements like fries and burgers. c. decrease in the price of soda. d. rightward shift of the demand curve for soda. e. decrease in the quantity demanded of substitutes like mineral water.
As this was happening the big financial institutions stopped buying subprime mortages
What will be an ideal response?