Suppose that on average there are three more car accidents for every extra inch of snowfall in a certain region. If snowfall is graphed on the y axis and car accidents on the x axis, then if we graph this relationship, the slope of the line will be
A) 9.
B) 3.
C) 1/3.
D) 1.
Answer: C
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If the absolute price elasticity of demand is 0.2, a 10 percent increase in the price will cause
A) the quantity demanded to decrease by 2 percent. B) the quantity demanded to decrease by 20 percent. C) the quantity demanded to decrease by 5 percent. D) the quantity demanded to decrease by 0.2 percent.
In the above figure, the curve that represents the most income inequality is
A) a. B) b. C) c. D) d.
The crowding in of private investment is associated with: a. a leftward shift of the aggregate demand curve for an economy
b. a leftward shift of the aggregate supply curve of an economy. c. a reduction in the level of government spending. d. a reduction in corporate income taxes. e. an increase in aggregate demand induced by increased government borrowing.
Assume that a Chrysler automobile sells for $15,000 in the United States and that the exchange rate is $1 = €1.3 . For purchasing power parity to hold, the same car should sell in Germany for:
a. €15,000. b. €11,538. c. €19,500. d. €1,538. e. €15,500.