If the slope of a straight line is 4 and if X (the variable on the horizontal axis) increases by 12, then Y (the variable on the vertical axis) will
A. decrease by 3.
B. increase by 3.
C. increase by 48.
D. decrease by 0.33.
Answer: C
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An individual's decision to supply her labor or to spend her time in leisure activity is known as the labor-leisure tradeoff
a. True b. False Indicate whether the statement is true or false
Over the past several decades in the United States, the labor-force participation rate of women has
a. increased, and the labor-force participation rate of men has increased. b. increased, and the labor-force participation rate of men has decreased. c. decreased, and the labor-force participation rate of men has increased. d. decreased, and the labor-force participation rate of men has decreased.
Usually, price elasticities of supply are
A) positive, because higher prices yield larger quantities supplied. B) considered short-run adjustments due to supply constraints. C) ordinarily a negative number based on the law of supply. D) an inverse relationship between price and quantity supplied.
Which of the following is more likely to be effective in increasing the growth rate of real GDP?
A) temporary cuts in income taxes B) permanent cuts in business taxes C) a one-time personal income tax rebate D) All cuts in taxes are equally likely to increase the growth rate of real GDP.