In the above table, the relationship between x and y is ________ and, with y measured on the vertical axis, the slope between y = 5 and y = 8 is equal to ________
A) negative; 8
B) negative; 6
C) positive; 5
D) positive; 3
D
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Which of the following defines marginal utility?
A. the total satisfaction or happiness received from the consumption of a good, service, or combination of goods and services B. the additional satisfaction or happiness received from the consumption of an additional unit of a good or service C. the maximum amount of satisfaction or happiness derived from consuming a product D. the change in total utility divided by the price of a product
Cartels are inherently self-destructive because each member firm has the incentive to cheat on the cartel agreement
Indicate whether the statement is true or false
If households save $40 billion less at each level of income and the marginal propensity to consume (MPC) is 0.8, the aggregate expenditure line will _____
a. intersect the 45-degree line at a real GDP of $40 billion b. shift upward by $40 billion c. shift downward by $40 billion d. shift upward by $200 billion because of the multiplier mechanism e. shift downward by $200 billion because of the multiplier mechanism
Describe Leontief's paradox.
What will be an ideal response?