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 B to Point C so that an additional 20 OLED televisions could be produced, production of LCD televisions would have to be reduced by
A. more than 30.
B. exactly 60.
C. fewer than 30.
D. exactly 30.
Answer: A
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Which of the following is true of fiat money?
A) Fiat money is illegal and difficult to counterfeit. B) The raw materials required for the production of fiat money are available only in a few countries. C) Fiat money is not backed by a physical commodity. D) The technology required to produce fiat money is not widely available.
If Rachel is at her best affordable point, then ________
A) her marginal rate of substitution equals 1 B) her marginal rate of substitution is maximized C) the relative price of the goods she buys equals the marginal rate of substitution D) she is indifferent among other points on her budget line
The Budget Enforcement Act of 1990: a. was a package of spending cuts and tax increases designed to reduce budget deficit
b. succeeded in balancing the budget cyclically. c. succeeded in balancing the budget within two years. d. identified defense and international programs as the only two areas of potential spending cuts. e. gave the President the authority to make unilateral spending cuts to balance the budget.
A college education is a(n)
A. investment in human capital. B. form of innovation. C. public good. D. mediated settlement.