An upward-sloping straight line on a linear scale will become a (an) ________ on a logarithmic scale
A) upward sloping straight line
B) upward sloping curve that gets continually steeper
C) upward sloping curve that gets continually flatter
D) horizontal line
E) downward sloping straight line
C
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If the selling price of a firm's product is $500 and the estimated average cost of producing this product is $400, what is the firm's markup?
A) 15 percent B) 20 percent C) 25 percent D) 40 percent
Refer to Figure 23-3. Suppose that government spending increases, shifting up the aggregate expenditure line. GDP increases from GDP1 to GDP2, and this amount is $400 billion. If the MPC is 0
75, then what is the distance between N and L or by how much did government spending change? A) $10 billion B) $100 billion C) $200 billion D) $300 billion
The hypothesis of political business cycles is based on the assumption that a vertical Phillips curve always holds
a. True b. False Indicate whether the statement is true or false
Bob is planning to sell his home. In preparation for the sale, he paints all of the ceilings in his house to cover up water stains from his leaking roof so that potential buyers will be unaware of this problem. This is an example of
a. moral hazard. b. screening. c. adverse selection. d. the principal-agent problem.