Refer to the diagram. If society is currently producing the combination of bicycles and computers shown by point D, the production of 2 more units of bicycles:
A. cannot be achieved because resources are fully employed.
B. will cost 1 unit of computers.
C. will cost 2 units of computers.
D. will cause some resources to become unemployed.
Ans: B. will cost 1 unit of computers.
Economics
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Suppose that the demand for artichokes (Qa) is given as: Qa = 200 - 4P. What is the price elasticity of demand if the price of artichokes is $10?
What will be an ideal response?
Economics
Equilibrium real income is more stable in the face of aggregate autonomous expenditure variability under
A) a floating exchange rate. B) a pegged exchange rate. C) a fixed exchange rate. D) perfect capital mobility systems.
Economics