Refer to the accompanying figure. The absolute value of the slope of the demand curve D1 is ________, and the absolute value of the slope of demand curve D2 is ________.
A. 5/4; 4/5
B. 4/5; 5/4
C. 1/2; 2
D. 2; 1/2
Answer: D
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Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The marginal rate of transformation in moving from Point A to Point B is
A. -2/3. B. -1.5. C. -3. D. -30.
Which of the following is a valid reason to consider government regulation?
A. Seeking some social objective that markets do not achieve. B. Fear that capitalism will prove too productive. C. Desire on the part of government to be useful. D. Requests for protection for an industry. E. All of the responses are correct.
Policies adopted by a country's central bank that influence interest rates and credit conditions, which in turn influence consumer and business spending are called:
A) monetary policy. B) fiscal policy. C) foreign policy. D) exchange rate policy.