The slope of a line parallel to the vertical axis is:
A. zero.
B. one.
C. infinite.
D. one-half.
Answer: C
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The Law of Demand states that:
A) the demand for a commodity is mostly influenced by consumers' income. B) the quantity demanded of a commodity is the same for all consumers in a perfectly competitive market. C) the quantity demanded of a commodity varies inversely with the price of the commodity. D) the demand for a commodity always equals the supply of the commodity.
Use national demand and supply curves to show (a) the incentives for trade to begin between nations. (b) the effect on the likely pattern of trade of a change in technology in A that causes A's national supply curve to shift out
(c) the effect on the likely pattern of trade of a change in tastes in B in favor of good S.
If we compare median family income in the U.S. for families headed by an adult with no more than a high school education to that of families headed by an adult with a bachelor's degree, which of the following best describes what we will find?
a. Median family income for families headed by an adult with a bachelor's degree is approximately 70 percent higher than families headed by an adult no more than a high school education. b. Median family income for families headed by an adult with a bachelor's degree is approximately 25 percent higher than families headed by an adult no more than a high school education. c. Median family income for families headed by an adult with a bachelor's degree is approximately 50 percent higher than families headed by an adult no more than a high school education. d. Median family income for families headed by an adult with a bachelor's degree is approximately 90 percent higher than families headed by an adult no more than a high school education.
All of the following are reasons for immigration to a foreign country, except that:
a. the domestic country may be politically repressive. b. there is an abundance of employment opportunities in the domestic country. c. the domestic country is economically stagnant. d. there is no scope for upward mobility in the domestic country. e. there are religious prosecutions.