“The hotter it gets, the more water people drink.” This statement implies that the relationship between temperature and water consumption must have a
A. negative slope.
B. positive slope.
C. slope always equal to one.
D. slope always equal to 45 degrees.
Answer: B
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European firms wishing to purchase American goods and services are ________ the foreign exchange market.
A. suppliers of U.S. dollars in B. demanders of U.S. dollars in C. demanders of Euros in D. supplied dollars by the European Central Bank for use in
Economists have estimated that the cross-price elasticity of demand between beer and spirits is -0.50, the income elasticity for spirits is 1.21 and the income elasticity for wine is 5.03
These elasticities mean that beer and spirits are ________, and spirits and wine are ________. A) complements; substitutes B) substitutes; luxuries C) complements; luxuries D) normal goods; luxuries
Explain how the aggregate demand curve is derived
What will be an ideal response?
In which of the following periods was the yield curve inverted?
A) February 2004 B) February 2007 C) February 2010 D) The yield curve was not inverted during any of these periods.