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 economy is currently at Point B. The opportunity cost of moving from Point B to Point A is the
A. 120 LCD TVs that must be forgone to produce 20 additional OLED TVs.
B. 30 LCD TVs that must be forgone to produce 40 additional OLED TVs.
C. 20 OLED TVs that must be forgone to produce 30 additional LCD TVs.
D. 40 OLED TVs that must be forgone to produce 120 additional LCD TVs.
Answer: C
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What best describes Thomas Jefferson's view of how American Indians should be treated?
a. Tribes should be forced to leave their native lands in the east and move west. b. Indians should have full property rights that should be respected by whites. c. Indians could continue to live on their reservations but the federal government should have access to all mining and natural resources on their land.
Which of the following observations concerning leading economic indicators is true? a. They provide warnings of likely downturns
b. They provide accurate information on the depth of a downturn. c. They provide accurate information on the duration of a downturn. d. Both b. and c. are true.
Which of the following is true for the world as a whole?
a. During the past 200 years, the income per person of the world has increased sharply, but there has been little change in the years of life expectancy at birth. b. During the past 200 years, the years of life expectancy at birth has increased sharply, but there has been little change in the world's income per person. c. During the 800 years between 1000 and 1800, the increases in both world income per person and life expectancy at birth were small, but both of these indicators have increased sharply during the past 200 years. d. Both income per person and life expectancy rose steadily during 1000-1800, but neither of these indicators have increased much during the past 200 years as the population of the world has become larger and larger.
If nominal GDP rises from one year to the next, then
What will be an ideal response?