Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point C to Point B, ________ additional LCD TVs could be produced when the production of OLED TVs is reduced by 20.
A. exactly 30
B. exactly 60
C. fewer than 30
D. more than 30
Answer: C
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Dell Computers decides to produce PCs and sell them directly over the Internet and via Best Buy. This is an example of
A) incentives. B) a microeconomic decision. C) a macroeconomic decision. D) scarcity.
Groups of nations that grants members trade privileges are called
A) local trade protectionists. B) trade settlements. C) regional trade blocs. D) allies.
The idea that a $1 increase in infrastructure spending will generate more than $1 in economic growth is a representation of:
A. the multiplier effect. B. an outside lag. C. an inside lag. D. an automatic stabilizer.
Based on the headline "Russia's Sable Monopoly Persists" you could predict that
A. The sable market is contestable. B. Sable producers are franchise monopolists. C. Output is more than it would be in a competitive sable market. D. Long-run economic profit is positive in the sable market.