Slope is calculated as the:
A. change in the vertical variable divided by the change in the horizontal variable.
B. change in the horizontal variable divided by the change in the vertical variable.
C. the vertical axis divided by the horizontal axis.
D. change in the vertical variable.
Answer: A
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If the consumption function is C = 90 + 0.75y, then the marginal propensity to save is
A) 0.25. B) 0.75. C) 67.5. D) 90.
To reduce the principal-agent problem
A) boards-of-directors can tie the salaries of top management to the profitability of the firm. B) managers can inflate profits on financial statements. C) managers can take on more risk than they disclose to investors. D) managers can hide liabilities by not disclosing them on financial statements.
Which of the following is correct?
a. Efficiency deals with the size of the economic pie, and equality deals with how fairly the pie is sliced. b. Equality can be judged on positive grounds whereas efficiency requires normative judgments. c. Efficiency is more difficult to evaluate than equality. d. Equality and efficiency are both maximized in a society when total surplus is maximized.
An increase in demand causes equilibrium price and quantity to rise, other things constant.
Answer the following statement true (T) or false (F)