Suppose we are considering the relationship between two variables y and x. y is measured on the y-axis and x is measured on the x-axis, and the relationship between then is a straight line. Suppose that the slope of the line is equal to 1
This slope means that A) a change in x is associated with a bigger change in y.
B) a change in x is associated with a smaller change in y.
C) a change in x is associated with no change in y.
D) a change in x is associated with an equal change in y.
D
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A rightward shift of the investment demand curve might be caused by:
A. an increase in the price level. B. a decline in the real interest rate. C. businesses planning to increase their stock of inventories. D. an increase in business taxes.
The implementation of the assembly line is an example how
A) changes in the organization of production improve productivity. B) neutral technical change improves productivity. C) non-neutral technical change can decrease productivity. D) labor saving technical change increases economy-wide unemployment.
A tax system under which an individual pays a higher fraction of his income in taxes at higher levels of income is formally described as
A. digressive. B. progressive. C. proportional. D. regressive.
Refer to the information provided in Table 6.1 below to answer the question(s) that follow. Table 6.1Number of Hamburgers per DayTotal UtilityMarginal Utility130?252?367?476?5?4Number ofSodas per DayTotal UtilityMarginal Utility120?235?347?457?5?7Refer to Table 6.1. Assume that a store is giving hamburgers and sodas away for free. Consumers can have as many sodas and hamburgers as they want, but the food has to be consumed one unit at a time. If George has already had one soda and two hamburgers, then George should
A. be indifferent between consuming the second soda or the third hamburger. B. consume neither another soda nor another hamburger to maximize his utility. C. next consume a hamburger to maximize his utility. D. next consume a soda to maximize his utility.