Which of the following is not correct?
a. The slope of a line will be a small positive number for a fairly flat upward-sloping line.
b. The slope of a line will be a large positive number for a steep upward-sloping line.
c. The slope of a line will be a negative number for a downward-sloping line.
d. The slope of a line will be infinite for a horizontal line.
d
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The Great Depression was made more severe because
A) the government lowered tariffs against imported goods. B) the Federal Reserve increased the money supply after the stock market crashed. C) depositors made runs on banks, thereby destroying the banking system in large parts of the nation. D) depositors left their money in banks instead of increasing spending, which would have increased GDP.
The multiplier is
A. the percentage of a given change in income that goes towards consumption. B. the part of consumption that is independent of the level of disposable income. C. the number which is multiplied by an autonomous change which gives the change in the equilibrium level of real GDP. D. the proportion of total disposable income that is consumed.
Refer to the diagram. At output level Q:
A. marginal product is falling.
B. marginal product is rising.
C. marginal product is negative.
D. one cannot determine whether marginal product is falling or rising.
If the economy is operating on the relatively vertical segment of the aggregate supply curve, an increase in aggregate demand causes a small change in the ________ and a big change in ________.
A. aggregate supply; aggregate demand B. aggregate demand; aggregate supply C. output; price level D. price level; output