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Unformatted text preview: uld be A) a decrease in P and an indeterminate change in Q. B) a decrease in Q and an indeterminate change in P. C) an increase in Q and a decrease in P. D) an increase in Q and an increase in P. E) no change in either P or Q. 2 FIGURE 1-3 9) Refer to Figure 1-3. Which production possibilities boundaries are consistent with increasing opportunity costs? A) boundary A only B) boundaries A and B C) boundary C only D) boundaries B and C E) boundaries A, B, and C The table below shows total output for an economy over 2 years. 2007 Good A Good B Good C Price $1.00 $2.00 $5.00 Quantity 100 units 200 units 100 units Quantity 120 units 200 units 98 units 2008 Price Good A $2.00 Good B $3.00 Good C $10.00 TABLE 20-3 10) Refer to Table 20-3. The real GDP in 2008, expressed in 2007 prices, was A) $ 700. B) $ 840. C) $ 970. D) $1 010. E) $1 740. 11) If 27 million people are employed and 3 million people are unemployed, what is the unemployment rate? A) 11% B) 89% C) 10% D) 90% E) indeterminable from the information provided. 3 12) Consider the followin...
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This test prep was uploaded on 03/13/2014 for the course ECON 101 taught by Professor Vanderwaal during the Fall '08 term at Waterloo.
- Fall '08