An inverse relationship will be graphed as
A) a line that is upward sloping.
B) a line that is downward sloping.
C) a loop.
D) a U-shaped curve.
Answer: B
You might also like to view...
What are the key differences between how we illustrate a contractionary fiscal policy in the basic aggregate demand and aggregate supply model and in the dynamic aggregate demand and aggregate supply model?
. What will be an ideal response?
Under a relative concept of poverty, poverty
A. doesn’t really exist. B. is higher in rich countries than in poor countries. C. can never be wholly eliminated by public policy. D. declines as technology advances.
Keynesian economists believe that
a. the velocity of money is stable b. changes in the money supply do not affect output c. there is a one-to-one correspondence between M and P in the equation of exchange d. the velocity of money is predictable e. the velocity of money is affected by changes in expectations
Holding the nonprice determinants of supply constant, a change in price would
a. result in either a decrease in supply or an increase in supply. b. result in a movement along a stationary supply curve. c. result in a shift of demand. d. have no effect on the quantity supplied.