The slope of the line on a line chart measures the rate of change in:
A) only the independent variable.
B) only the dependent variable.
C) the dependent variable as the independent variable changes.
D) the independent variable as the dependent variable changes.
C
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National income accountants measure the value of final goods and services with
A) market prices. B) fair prices. C) objective values. D) best-guess estimates as to what things are really worth.
National income equals
A) net national product minus statistical discrepancy. B) gross national product minus depreciation. C) GNP minus depreciation and taxes on production and imports. D) net national product minus taxes on production and imports and employer contributions to Social Security.
For a worker, the opportunity cost of an hour of leisure
a. rises by $8 when his wage rises by $8 per hour. b. falls by $8 when his wage rises by $8 per hour. c. is the same for a celebrity talk-show host as it is for a teacher. d. is determined by factors that are unrelated to his hourly wage.
Refer to the graph below. The firm's marginal revenue curve must be:
The following graph shows a total revenue curve for a monopolist.
A. Downsloping
B. Constant
C. Upsloping
D. U-shaped