A cross-section graph
A) is divided into different sections.
B) shows values of an economic variable for different groups in a population at a point in time.
C) measures time on the x-axis and the variable in which we are interested on the y-axis.
D) Both answers A and C are correct.
E) Both answers B and C are correct.
B
You might also like to view...
What did the Bretton Woods Agreement do?
What will be an ideal response?
The figure above shows the U.S. production function. How would an increase in capital be shown in the figure?
A) an upward shift or rotation of the production function B) a downward shift or rotation of the production function C) a movement from point A to point B D) a movement from point C to point B E) None of the above because the effects of an increase in capital cannot be shown in the figure.
When comparing the ratio of imports or exports to GDP, the United States, relative to other countries, has:
A. Higher ratios for both imports and exports. B. A higher ratio for imports but a lower ratio for exports. C. A lower ratio for imports but a higher ratio for exports. D. Lower ratios for both imports and exports.
If, at the output where marginal revenue equals marginal cost, price is below average variable cost, a firm will shut down in the short run.
Answer the following statement true (T) or false (F)