If a straight line passes through the point x = 8 and y = 4 and also through the point x = 12 and y = 6, the slope of this line is
A) negative one half. B) one half.
C) negative 4 divided by 2. D) two.
B
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The precise terms of each futures contract are
A) negotiated by the long and the short. B) set by the short position. C) set by the long position. D) established by the exchange on which the trade takes place.
Refer to the diagram of the market for product X. Curve St embodies all costs (including externalities), and Dt embodies all benefits (including externalities) associated with the production and consumption of X. Assuming the market equilibrium output is Q1, we can conclude that the existence of external
A. benefits has resulted in an underallocation of resources to X. B. costs has resulted in an underallocation of resources to X. C. benefits has resulted in an overallocation of resources to X. D. costs has resulted in an overallocation of resources to X.
The demand curve shows the relationship between
A. the demand and supply schedules. B. demand and supply equilibrium. C. price and quantity demanded. D. None of these choices are correct.
Which of the following is not a characteristic of a public good?
a. It is not excludable. b. It is not diminished or depreciated as additional people consume the good. c. Its benefits cannot be withheld from anyone. d. Because it is a free good, there is no opportunity cost.