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 D to Point B, the opportunity cost of hybrid cars, measured in terms of motorcycles,
A. initially increases, then decreases.
B. increases.
C. remains constant.
D. decreases.
Answer: B
You might also like to view...
Figure 4-23
In Figure 4-23, which of the following movements would be caused by a change in income?
A. A to C B. C to A C. B to D D. B to A
Suppose Julie plants a beautiful garden in her front yard. The benefits of the garden to Julie and to her neighbors equals the
A) external benefit. B) marginal private benefit. C) marginal external benefit. D) marginal social benefit. E) marginal social cost.
When the coupon rate on newly issued bonds decreases relative to older, outstanding bonds, what happens?
A) Older bonds will sell for more than their face value. B) Older bonds can still be sold at their face value. C) The market price of the older bond falls in the secondary market. D) The market price of the older bond rises in the secondary market.
In a multiple regression problem involving two independent variables, if b1 is computed to be +2.0, it means that:
A) the relationship between X1 and Y is significant. B) the estimated value of Y increases by an average of 2 units for each increase of 1 unit of X1, holding X2 constant. C) the estimated value of Y increases by an average of 2 units for each increase of 1 unit of X1, without regard to X2. D) the estimated average value of Y is 2 when X1 equals zero.