There is a negative relationship between two variables if
A) neither variable moves. B) they move in the same direction.
C) they move in opposite directions. D) one variable changes and the other does not.
C
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The amount of consumption expenditure that takes place when income is zero is
A) called induced consumption. B) called zero-based consumption. C) equal to zero. D) called autonomous consumption. E) equal to saving.
As population of a region increases, the consumer's demand curve for a product will shift
Indicate whether the statement is true or false
Think in terms of the consumer. A shortage of a good exists when
a. demand is greater than supply b. the quantity supplied is greater than the quantity demanded c. the quantity demanded is greater than the quantity supplied d. supply is greater than demand e. the price is at its equilibrium level, but the quantities bought and sold are not equal
During a certain year, the nominal interest rate was 8 percent, the real interest rate was 3 percent, and the CPI was 176.7 at the beginning of the year. The CPI at the end of the year was
a. 196.1. b. 185.5. c. 168.3. d. 159.2.