If a production possibility curve representing a trade-off between a grade in English and a grade in math has a negative slope, we know that:
A. there is an inverse relationship between grades in English and grades in math.
B. there is a direct relationship between grades in English and grades in math.
C. one can get better grades in English only if one gets better grades in math.
D. there is no relationship between grades in English and grades in math.
Answer: A
You might also like to view...
At McDonald's, economies of scale at the plant (or restaurant) level occur
a. over the range of output for which that restaurant's average cost curve is upward sloping b. over the range of output for which that restaurant's average cost curve is horizontal c. over the range of output for which that restaurant's average cost curve is downward sloping d. at all levels of output e. only in the short run
When a tax is imposed on a good, the resulting decrease in consumer surplus is always larger than the resulting decrease in producer surplus
a. True b. False Indicate whether the statement is true or false
In a certain economy, when income is $1000 . consumer spending is $800 . The value of the multiplier for this economy is 2.5 . It follows that, when income is $1020, consumer spending is
a. $816 . For this economy, an initial increase of $100 in consumer spending translates into a $250 increase in aggregate demand. b. $816 . For this economy, an initial increase of $100 in consumer spending translates into a $400 increase in aggregate demand. c. $812 . For this economy, an initial increase of $100 in consumer spending translates into a $250 increase in aggregate demand. d. $812 . For this economy, an initial increase of $100 in consumer spending translates into an $800 increase in aggregate demand.
India is not a member of the China-ASEAN (Association of South East Asian Nations) free-trade area implemented on January 1, 2010. As a result, India fears that some of its:
a. exports to China will be diverted to ASEAN countries. b. exports to the United States will be diverted to China. c. exports to China and to ASEAN countries will be diverted to trade among members of the China-ASEAN free-trade area. d. imports from ASEAN countries will be diverted to China.