If the quantity of the variable on the y-axis increases by 3 when the quantity of the variable on the x-axis increases by 4, then the slope of the curve equals
A) 3.
B) 4.
C) 3/4.
D) 4/3.
E) 1.
C
You might also like to view...
Refer to Table 4.1, which shows Flo's and Rita's individual supply schedules for frozen latte-on-a-stick. Assuming Flo and Rita are the only suppliers in the market, what is the market quantity supplied at a price of $5?
A) 3 B) 12 C) 15 D) 27
In a market-oriented economy, most economic decisions about what to produce, how to produce, who will produce, and for whom to produce are made by buyers and sellers
a. True b. False Indicate whether the statement is true or false
Suppose the economy was in equilibrium, and the central bank increased the money supply by an expected amount equal to $100 billion. Monetarist theory would predict that the:
a. Long-term real GDP growth will rise. b. Long-term real GDP growth rate will fall. c. Long-term real GDP growth rate will remain unchanged. d. Long-term inflation rate will fall. e. The international value of the domestic currency will rise.
When GDP is measured in "current prices" it is known as the:
A. real GDP. B. nominal GDP. C. real GNP. D. nominal GNP.