In a topographic map, each line represents a particular elevation above sea level, and in an indifference map each line represents a particular level of:
A. Total utility
B. Marginal utility
C. Income
D. Demand
A. Total utility
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Historical evidence seems to indicate that
A) budget and trade deficits generally move in the same direction. B) budget and trade deficits generally move in the opposite direction. C) trade and budget deficits decrease when the president is a Republican, and increase when the president is a Democrat. D) there is no consistent relationship between trade and budget deficits.
Inflation can be started by
A) a decrease in aggregate supply or a decrease in aggregate demand. B) a decrease in aggregate supply or an increase in aggregate demand. C) an increase in aggregate supply or an increase in aggregate demand. D) an increase in aggregate supply or a decrease in aggregate demand. E) an increase in aggregate demand or an increase in potential GDP.
Economists and accountants have very different definitions of profit.
Answer the following statement true (T) or false (F)
Relative Importance
What will be an ideal response?