A nonlinear function
A) makes little sense, because variables in the real world are related linearly.
B) can be adequately described by a straight line between the dependent variable and one of the explanatory variables.
C) is a concept that only applies to the case of a single or two explanatory variables since you cannot draw a line in four dimensions.
D) is a function with a slope that is not constant.
Answer: C
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The term capital in economic theory refers to
A) any privately owned resource. B) bonds, stocks, and similar financial assets. C) money available for lending or spending. D) produced goods used to produce future goods. E) savings out of income.
A rise in the price level will: a. cause an upward movement along the aggregate demand curve. b. cause a downward movement along the aggregate demand curve. c. cause a leftward shift of the aggregate demand curve
d. cause a rightward shift of the aggregate demand curve. e. have no impact on the aggregate demand curve.
The idea of a carbon tax makes more sense at the _________ level because it is ____________.
A. individual; easier to monitor B. individual; going to have a larger impact C. corporate; going to have a larger impact D. corporate; easier to monitor
Which of the following statements is true concerning the U.S. national debt?
A. Budget surpluses in 2002 and 2003 have reduced the national debt. B. U. S. government agencies own about 42 percent of the total national debt. C. Private American citizens own over 70 percent of the total national debt. D. Foreigners hold 50 percent of the total national debt.