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
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Assuming that the part of the government's budget used for military expenditures reduces the amount available for consumption expenditures and that the benefits to military expenditures take longer to accrue than consumption expenditures, _____
decision-makers will _____. a. democratic; be biased against military spending b. democratic; be biased in favor of military spending c. autocratic; be biased in favor of consumption d. autocratic; be biased in favor of military spending
The law of demand states that a lower price increases the amount of a commodity that people are willing to buy
a. True b. False Indicate whether the statement is true or false
Leveraging can encourage herding behavior.
Answer the following statement true (T) or false (F)
Public goods are
A. provided only by the capitalistic system. B. any goods or services produced by the government. C. provided to additional users at no additional cost. D. provided only by the communist system.