Economic growth is demonstrated by the LRAS as it
A. becomes more vertical.
B. becomes more horizontal.
C. shifts to the left.
D. shifts to the right.
Answer: D
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If a consumer prefers apples to bananas and prefers bananas to citrus fruit, in order to satisfy assumptions about preferences she has to prefer
A) bananas to apples. B) citrus fruit to bananas. C) apples to citrus fruit. D) citrus fruit to apples.
If the current account shows a deficit, the capital account must show a surplus of the same amount
a. True b. False
In the financial crises of the 1990s, investors lost huge amounts of wealth as a consequence of the rapid drop in values of local firms in each country
a. True b. False Indicate whether the statement is true or false
Which of the following types of relationships between a dependent variable y and an independent variable x is represented by a population regression line that resembles a horizontal line?
a. No linear relationship between the mean value of y and x b. A negative linear relationship between the mean value of y and x c. A positive linear relationship between the mean value of y and x d. A normal relationship between the mean value of y and x