Refer to the information provided in Figure 7.8 below to answer the question(s) that follow. 
Figure 7.8Refer to Figure 7.8. The slope of isocost CD is
A. -1.
B. -2/3.
C. 0.
D. indeterminate from this information, as the prices of capital and labor are not given.
Answer: A
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Refer to the scenario above. If the fourth household pays the lowest percentage of its income as tax, it can be inferred that the government follows a ________ tax system
A) progressive B) proportional C) cardinal D) regressive
The fact that the balance of trade normally falls before increasing after a devaluation is known as
A) the J-curve. B) the pass-through effect. C) the balance of payments paradox. D) the indifference reflection.
In the definition of GDP, the words "total market value" refer to total
A) dollar value at base prices. B) dollar value at current prices. C) subjective value. D) objective value. E) a and d
Which of the following statements about the so-called "hedonic treadmill" is not true?
A. It is a consequence of the fact that our brains are wired to notice changes rather than states B. An increase in consumption level will give a permanent increase in happiness C. It is the reason why people across a wide spectrum of incomes are found to be equally happy D. A one-shot increase in income will, in the long run, not affect people's sense of satisfaction