In which of the following relationships does the intercept have a real-world interpretation?
A) the relationship between the change in the unemployment rate and the growth rate of real GDP ("Okun's Law")
B) the demand for coffee and its price
C) test scores and class-size
D) weight and height of individuals
Answer: A
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The law of demand for dollars in the foreign exchange market means that the
A) lower the exchange rate, the greater the quantity of dollars demanded. B) higher the exchange rate, the smaller the quantity of dollars demanded. C) lower the exchange rate, the smaller the quantity of U.S. exports demanded. D) Both answers A and B are correct.
When the government produces and sells water, some of the revenues earned represent taxation
a. True b. False
In the short run,
a. economic profit is always zero b. economic loss is always zero c. some inputs are fixed d. the number of firms in an industry can vary e. technology is indeterminate
The computerization of police departments throughout the country has greatly reduced the crime rate. What macroeconomic variable is likely to be directly affected by this change?
A. The trade deficit B. Inflation C. The real interest rate D. Productivity