Which of the following statements is correct?
A) When a line slopes downwards moving to the right, the variable measured on the x-axis and the variable measured on the y-axis are directly related.
B) When a line slopes upwards moving to the right, the variable measured on the x-axis and the variable measured on the y-axis are directly related.
C) The higher the temperature, the more ice cream people consume. Thus the temperature and ice cream consumption are inversely related.
D) If two variables are directly related, a graph of the two variables has a negative slope.
E) None of the above statements is correct.
B
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Suppose that opportunity costs are constant and that Fred can either bake a maximum of six pies or three cakes in a day. Ethel can either produce a maximum of eight pies or two cakes in a day. Fred's opportunity cost to produce one cake is
A) one-half pie. B) two pies. C) six pies. D) four pies.
When prices of products are set below equilibrium,
a. society's resources are inefficiently allocated. b. firms expand output to increase profits. c. firms earn excessively high profits. d. consumers benefit from surpluses of cheap goods.
When Electronic Arts, the company behind the games Zuma and Plants vs. Zombies, sold stock to the public for the first time in September 1989, funds were being raised in a ________ market, and when those newly issued shares are resold to other buyers,
the sales take place in a ________ market. A) primary; primary B) primary; secondary C) secondary; primary D) secondary; secondary
A considerable amount of uncertainty is involved in making investment decisions.
Answer the following statement true (T) or false (F)