The above table shows data on two variables. If these data were graphed, the slope of the line would be
A) 3/5.
B) 3.
C) 5/3.
D) impossible to determine from the information given.
A
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If the MPC is 0.75, what is the value of the government purchases multiplier?
a. -1.33 b. 3.0 c. -3.0 d. 4.0 e. -4.0
Those economists who argue that the European Union is not a true optimal currency area cite _______________ and __________________ as justifications for this position
A) differences in culture; decreased labor mobility B) differences in language; culture C) decreased labor mobility; language differences D) none of the above
The price elasticity of demand for a particular commodity depends upon all of the following except
A. availability of complementary goods. B. the percentage of a? consumer's total budget devoted to purchasing that commodity. C. the number of close substitutes for that commodity. D. the length of time allowed for price changes of that commodity.
Under which one of the following market structures are sellers most likely to consider the reaction of rival sellers when they set the price of their product?
A. Perfectly competition. B. Monopoly. C. Monopolistic competition. D. Oligopoly.