A graph of the relationship between two variables is a line that slopes down to the right. These two variables are ________ related
A) trend-line B) negatively C) positively D) not E) directly
B
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Twenty-nine countries in Europe have formed the European Union (EU). After the EU was formed it
A) eliminated all tariffs among its member countries. B) completed a trade treaty (NAFTA) that reduced tariff rates between the EU and North American countries. C) barred imports of 747 jumbo jets by its member countries; all EU countries must now buy jets from Airbus, a European company. D) greatly decreased imports and exports among its member countries.
Suppose that in 2020 the average citizen's federal tax bill is $9,372, and total federal spending is $10,824 per person. In 2020, the federal government will have
a. a budget surplus. b. a budget deficit. c. horizontal equity. d. vertical equity.
Suppose the price of a package of guitar strings is $5. If Mark's marginal cost of producing that package of guitar strings is $5, his producer surplus from that package of guitar strings is:
A. $0. B. $1. C. $2. D. $3.
The natural rate of unemployment helps determine
A. the unemployment rate when the economy is not on its long-run supply curve. B. the position of the long-run aggregate supply curve. C. the slope of the long-run aggregate supply curve. D. the level of economic growth in the economy.