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 C to Point B, ________ additional LCD TVs could be produced when the production of OLED TVs is reduced by 20.
A. exactly 30
B. exactly 60
C. fewer than 30
D. more than 30
Answer: C
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Fred and Barney fill egg cartons with eggs. Fred just started the job and can fill only 25 cartons an hour. Barney has significant on-the-job experience and can fill 50 cartons an hour. Both Fred and Barney work 50 hours a week. Fred's average weekly productivity is ________ cartons; Barney's average weekly productivity is ________ cartons; and as a team their average weekly productivity is ________ cartons.
A. 25; 50; 37.5 B. 25; 50; 75 C. 1,000; 2,000; 1,500 D. 1,250; 2,500; 1,875
Consider two countries—country A and country B. Both countries are exactly similar in all aspects except for one. The institutions in country A are inclusive while the institutions in country B are extractive
Given this information, which of the following statements is likely to be true? A) Both countries are likely to be capitalistic. B) Both countries are likely to be totalitarian. C) Country A is likely to have well-defined property rights, while country B is likely to lack well-defined property rights. D) Country B is likely to have well defined property rights, while country A is likely to lack well-defined property rights.
Economists who attempt to explain the increasing earnings gap between skilled and unskilled workers offer two main hypotheses:
a. one hypothesis emphasizes education, and the other emphasizes compensating differentials. b. one hypothesis emphasizes education, and the other international trade. c. one hypothesis emphasizes international trade, and the other emphasizes technology. d. one hypothesis emphasizes technology, and the other emphasizes compensating differentials.
Which considerations regarding regulatory policies were related to the production of the Toyota Prius in the United States?
A.Toyota had to make sure it complied with health and safety regulations. B. Since the car was a hybrid, Toyota did not have to worry about federal emissions standards. D. All of the above C. Since Toyota is a Japanese producer, the regulatory policies of the United States did not apply to its new cars.