On a time-series graph with a ratio scale
A) the slope of the line is negative when the level of the variable is rising.
B) the same distance along the vertical axis measures different amounts of the variable.
C) time is plotted on the vertical axis rather than the horizontal axis.
D) it is impossible to determine a trend.
B
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In a recessionary expenditure gap, the equilibrium level of real GDP is
A. greater than planned aggregate expenditures. B. greater than full-employment real GDP. C. less than planned aggregate expenditures. D. less than full-employment real GDP.
The most basic investigative tool of economics is the
A. concept of scarcity. B. mechanism of supply and demand. C. coordination and trade syndrome. D. inflation-unemployment trade-off. E. regulation of business.
Which of the following statements is correct?
A) An increase in people's expected future income shifts the aggregate demand curve leftward. B) A tax increase shifts the aggregate demand curve leftward. C) An increase in potential GDP shifts the aggregate demand curve rightward. D) An increase in exports shifts the aggregate demand curve leftward. E) The higher the price level, the larger is the quantity of real GDP demanded.
What is meant by the expected rate of return?
What will be an ideal response?