Exhibit 1A-3 Straight line
Straight line AB in Exhibit 1A-3 is a downward sloping line illustrating:
A. a direct relationship between X and Y.
B. an inverse relationship between X and Y.
C. X and Y are unrelated variables.
D. the ceteris paribus assumption.
Answer: B
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Suppose the U.S. GDP growth rate is slower relative to other countries' GDP growth rates. This will
A) shift the aggregate demand curve to the left. B) move the economy down along a stationary aggregate demand curve. C) shift the aggregate demand curve to the right. D) move the economy up along a stationary aggregate demand curve.
Explain the problem encountered by successive monopolies? How can the supplier and the producer overcome this problem?
A reduced interest rate stimulates investment by
a. improving the prospects for a large profit from new investment b. enabling firms to ignore the opportunity costs of financing new investment c. increasing the opportunity cost of the investment d. reducing the cost of the investment e. signaling the existence of eager buyers
The unit-of-account function of money means that money is used
A) as a consistent means of measuring the value of things. B) as the common denominator of future payments. C) to pay for goods and services. D) to accumulate purchasing power.