Measured between two points on a curve, the ratio of the change in the variable on the vertical axis to the change in the variable on the horizontal axis is the:
A. axis.
B. slope.
C. dependent curve.
D. independent curve.
Answer: B
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In the above table, if the market is perfectly competitive and unregulated, the equilibrium output will be
A) 1,000 units. B) 2,000 units. C) 3,000 units. D) 4,000 units.
As interest rates rise, other things equal,
A) investment decreases. B) money demand decreases. C) capital inflows increase. D) All of the above.
Changes in nominal GDP only reflect changes in production while changes in real GDP include changes in both production and prices
Indicate whether the statement is true or false
Which of the following is true?
a. Employers who discriminate against blacks and other minorities will have lower costs than rival firms that hire employees strictly on the basis of merit (productivity). b. After adjusting for factors such as education, experience, and location, the earnings of black men are almost identical to the earnings of similar white men. c. If employers can hire equally productive minority employees at a lower wage than non-minorities, the profit motive provides a strong incentive to do so. d. The empirical evidence indicates that the earnings gap between whites and blacks is entirely the result of employment discrimination.