A curve with a positive but decreasing slope represents a relationship where, every time the variable measured along the horizontal axis increases by one unit, the variable measured along the vertical axis
A) increases by a decreasing amount.
B) decreases.
C) does not change by much.
D) increases by an increasing amount.
E) increases by a constant amount.
A
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Answer the next question on the basis of the following four tax schedules for the given base of taxable income.IncomeTax ATax BTax CTax D$10,000$650$1,000$500$1,00020,0008502,0001,0003,00030,0009504,0001,5006,00040,0001,0506,0002,0009,500Which of the above tax schedules is a proportional tax schedule throughout?
A. Tax A B. Tax B C. Tax C D. Tax D
Refer to Edgeworth Box Economy. In an Edgeworth box, a point where two indifference curves are tangent represents
a. the initial endowment point. b. an allocation that both consumers prefer to the initial endowment. c. a competitive equilibrium. d. a Pareto-optimal allocation of goods.
What is the opportunity cost of going from point E to point D?
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward