The table above shows how the number of books Katie buys each year depends on her income a. What kind of relationship exists between Katie's income and the number of books she purchases? b
Plot the relationship between Katie's income and the number of books she purchases in the above figure. Measure income along the vertical axis and the number of books along the horizontal axis. Be sure to label the axes. c. What is the slope of the relationship between $50,000 and $70,000 of income? d. What is the slope of the relationship between $90,000 and $110,000 of income? e. Comment on the similarity or dissimilarity of your answers to parts (c) and (d).
a. There is a positive relationshi
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The purchase of a foreign asset by a U.S. resident is a
A) surplus item on the financial account. B) deficit item on the current account. C) deficit item on the financial account. D) surplus item on the current account.
Aggregate supply denotes the relationship between the __________________ that firms choose to produce and sell and the _________________, holding the price of inputs fixed.
a. total quantity; price level for output b. type of goods; input price of raw materials c. price of goods; number of employees d. total inputs; types of goods
Which of the following is an argument that the incidence of corporate taxation falls entirely on consumers?
A. Most taxes on consumers are collected by corporations through sales taxes. B. Corporations pass their tax burdens on to consumers because consumers ultimately work for the corporations. C. Corporations always evade taxes so that consumers ultimately bear the tax burdens as taxpayers. D. Corporations pass their tax burdens on to consumers by charging higher prices equal to the amount of the tax.
Mary can clean 20 windows per hour or type 30 pages of paper per hour. Tom can clean 18 windows per hour or he can type 25 pages of paper per hour. Based on this
A) Mary has comparative advantages in activities. B) Tom has comparative advantages in both activities. C) Tom has a comparative advantage in cleaning windows. D) Mary has a comparative advantage in cleaning windows.