How can the influence of a third variable be shown on a two-dimensional graph?
A) by allowing the relationship to be nonlinear
B) by allowing the position of the relationship line or curve to shift on the graph
C) by drawing a third axis coming out of the two axes
D) by super-imposing the third variable on the two-dimensional graph
Answer: B
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The lengths of the recession and expansion phases and which sectors of the economy are most affected will rarely be the same in any two business cycles
Indicate whether the statement is true or false
A nation's saving rate is not a primary determinant of its long-run economic prosperity
a. True b. False Indicate whether the statement is true or false
When you are hungry, you receive the most satisfaction from the first apple and less satisfaction from each additional apple. What explains this?
a. income effect b. substitution effect c. law of elasticity of demand d. law of diminishing marginal utility
Why is it that a firm will typically not pay for general training?
A. The skills gained from the general training are transferable to other firms. B. General training is expensive. C. The benefits of general training depreciate quickly. D. General training does not increase worker productivity. E. General training is free.