If the slope of a straight line is 4 and if Y (the variable on the vertical axis) decreases by 20, then X (the variable on the horizontal axis)
A. decreases by 5.
B. increases by 5.
C. decreases by 80.
D. increases by 80.
Answer: A
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How can the long-run equilibrium level of real Gross Domestic Product (GDP) increase without the price level changing?
What will be an ideal response?
An outcome is Pareto efficient if:
A) an individual can be made better off without making someone else worse off. B) benefits of the outcome are equally distributed among all the participants. C) no individual can be made better off without making someone else worse off. D) costs of the outcome are equally shared by all the participants.
As a price change persists over a long period of time, we should expect the demand elasticity to fall
a. True b. False Indicate whether the statement is true or false
Suppose that you are a manager. You are considering whether or not to monitor employees with the payoffs in the normal-form game shown below.ManagerWorker??WorkShirk?Monitor-1,11,-1?Don't Monitor1,-1-1,1Which of the following pairs of strategies constitutes a Nash equilibrium?
A. Manager monitors and worker shirks. B. Manager does not monitor and worker works. C. Manager monitors and worker works. D. None of the answers is correct.