Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4Refer to Figure 2.4. The economy moves from Point E to Point B. This could be explained by
A. a change in society's preferences for hybrid cars versus motorcycles.
B. an increase in economic growth.
C. an increase in unemployment.
D. a reduction in unemployment.
Answer: A
You might also like to view...
A friend is currently earning income but does not expect to earn income in the future. When the interest rate rose, I observed him saving less. From this, I can conclude that current consumption is an inferior good for my friend.
Answer the following statement true (T) or false (F)
If the federal government collects $10 billion in taxes and then spends it on the public, the money supply
A) rises by $20 billion. B) rises by $10 billion. C) falls by $10 billion. D) is unaffected.
Which of the following statements is true regarding protocols in various types of auctions?
a. An English auction requires bidders to begin with the highest price. b. A Dutch auction starts with the lowest price any bidder is willing to pay, which is displayed in a one-handed clock. c. In a Dutch auction, the first buyer to bid gets the item at the price shown in the one-handed clock. d. In a second-price auction, the second-highest bidder gets the item.
Specialization in goods and services one can produce at a low cost makes it possible for trading partners to produce a larger joint output. This is called
What will be an ideal response?