Refer to the information provided in Figure 25.1 below to answer the question(s) that follow.
Figure 25.1Refer to Figure 25.1. A movement from Point B to Point D can be caused by
A. a decrease in nominal income.
B. an increase in the interest rate.
C. an increase in nominal income.
D. a decrease in the interest rate.
Answer: C
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You are the owner of a rare bottle of wine valued at $332. There are no costs associated with storing or selling the wine. Next year you expect the wine to increase in value to $350. If the interest rate is 10 percent
A) you should sell the wine today. B) you should keep the wine for at least one more year. C) you are indifferent between selling the wine today and holding it for one more year. D) more information is needed to answer this question.
A straight-line production possibilities curve has
A) an increasing opportunity cost between the two goods. B) a decreasing opportunity cost between the two goods. C) a constant opportunity cost between the two goods. D) no opportunity cost between the two goods.
Refer to the above table. What does the marginal physical product equal when the amount of labor goes from 11 to 12 units?
A) 600 B) 90 C) 100 D) 690
Anita is studying for history and economics. Based on the production possibilities curve, if Anita uses her study time to get the same grade in each class, what will that grade be?
a. A
b. B
c. C
d. D