A graph with a positive slope indicates that the variables depicted on the axes move in the same directions
a. True
b. False
Indicate whether the statement is true or false
True
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If a binding price floor were placed in the market in the graph shown:
A. quantity demanded would exceed quantity supplied.
B. quantity supplied would exceed quantity demanded.
C. the demand curve would have to shift.
D. the supply curve would have to shift.
The goods produced by oligopolists are close substitutes
Indicate whether the statement is true or false
A tax is imposed on employers and workers that are used to fund Social Security and Medicare. This tax is sometimes referred to as
A) the ACIF.
B) the Income Security Tax.
C) the federal income tax.
D) the payroll tax.
Aggregate demand will decrease when there are
A. decreases in government spending. B. increases in consumer and business confidence. C. increases in inflationary expectations. D. decreases in the price level.