The slope of a line
A) can never equal zero.
B) is always a constant.
C) measures the ratio of the change in the value of the y-axis variable relative to the change in the value of the x-axis variable.
D) measures the value of the y-axis variable relative to the value of the x-axis variable.
C
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The CPI's approach is to
a. track the cost of the CPI market basket, which is the collection of goods and services that the typical consumer buys. b. track the cost of the CPI market basket, which is the collection of every good and service that is for sale in the U.S. c. track the cost of housing, and food and beverage expenditures. d. track the cost of the CPI market basket, which is the collection of every good that is for sale in the U.S. e. track the cost of the CPI market basket, which is the collection of goods that the typical consumer buys.
One way the government can boost the economy out of a recession is:
A. with public announcements telling the public to save their money. B. by increasing government spending. C. by setting price ceilings on most goods so people can afford them. D. None of these will help an economy in recession.
If there is no response in quantity demanded to a change in price, demand is
A) perfectly inelastic. B) perfectly elastic. C) elastic. D) unit-elastic.
The phrase "there's no such thing as a free lunch" is a common way of expressing the concept of efficient markets.
Answer the following statement true (T) or false (F)