In a linear equation relating income and consumption, you know that the intercept is $1,000 and the slope of the line is .4. If income is $20,000, then consumption is:
A. $8,000
B. $9,000
C. $10,000
D. $11,000
Answer: B
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Anthropogenic pollutants
a. are absorbed naturally through the assimilative capacity of nature b. are human-induced contaminants, such as fossil fuel combustion c. are of little concern to environmental policy makers d. come from nonartificial processes in nature, such as salt spray from oceans
Graphically we can illustrate a firm with price setting ability by drawing its demand curve as ________
A) downward sloping B) upward sloping C) horizontal D) vertical
It is argued that if a rich high wage country such as the United States were to expand trade with a relatively poor and low wage country such as Mexico, then U.S. industry would migrate south, and U.S. wages would fall to the level of Mexico's
What do you think about this argument?
Figure 16-1
In Figure 16-1, there are four levels of income. G is government expenditures and TT is taxes less transfers. At which level of income is the actual deficit the greatest?
a.
Y4
b.
Y3
c.
Y2
d.
Y1