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 A to Point B, ________ additional OLED TVs could be produced when the production of LCD TVs is reduced by 30.
A. exactly 20
B. more than 20
C. fewer than 20
D. exactly 90
Answer: A
You might also like to view...
The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.
Explain the three fundamental decisions that firms in perfectly competitive markets mustmake. Explain how these decisions are interrelated
What will be an ideal response?
Which factor has most affected the ability and the willingness of union members to strike in the last decade?
A. The rising number of people working for the government. B. The possibility of hiring permanent replacement workers in the U.S. or overseas. C. The rising cost of living, which has lowered the purchasing power of strike benefits. D. High unemployment, which makes it more difficult for strikers to find temporary jobs.
New Keynesians hypothesize that
A. fluctuations in output are largely caused by supply shocks. B. the relationship between inflation and unemployment is exploitable in the long run. C. there is no relationship between inflation and unemployment. D. the relationship between inflation and unemployment is exploitable in the short run.