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 E to Point A, the opportunity cost of hybrid cars, measured in terms of motorcycles
A. increases.
B. initially increases, then decreases.
C. decreases.
D. remains constant.
Answer: A
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Briefly explain how growth in real GDP differs across economies including the United States, Japan, Africa, Central America, Hong Kong, Korea, and Singapore
What will be an ideal response?
Frederick W. Taylor argued that worker efficiency could be improved by
a. analyzing in detail the movements required to perform a job. b. offering employees quarterly stock options. c. encouraging employees to form company unions. d. introducing to a 5-hour/day, 7-day/week schedule
Which of the following is subtracted from GNP when calculating net national product?
a. Interest b. Capital consumption allowance c. Rent d. Indirect business taxes e. Income tax
What has been the range of federal spending as a percentage of GDP since 1960?
a. 10 percent to 12 percent b. 13 percent to 15 percent c. 18 percent to 22 percent d. 25 percent to 30 percent