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 A to Point E, the opportunity cost of motorcycles, measured in terms of hybrid cars
A. remains constant.
B. decreases.
C. initially increases, then decreases.
D. increases.
Answer: D
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A monopolistically competitive firm produces a good or service that has no close substitutes
Indicate whether the statement is true or false
Which of the following would result in a trade surplus for the United States?
A) Exports of goods = $550 billion Imports of goods = $575 billion Exports of services = $275 billion Imports of services = $300 billion B) Exports of goods = $725 billion Imports of goods = $790 billion Exports of services = $350 billion Imports of services = $260 billion C) Exports of goods = $625 billion Imports of goods = $625 billion Exports of services = $300 billion Imports of services = $375 billion D) None of the above will result in a trade surplus.
Which of the following is NOT a private cost?
A) the health insurance costs a firm must pay for its employees B) the pollution caused by a firm dumping its wastes into the river C) the coffee pot that Jan dropped and broke this morning D) the amount that a firm must pay for raw materials to make its product
During the Great Recession of 2008, which of the following corporations generated the greatest profits?
A. Walmart B. Exxon C. Microsoft D. General Motors