A negative slope
A. indicates that there is no relationship between two variables, such as women's wages and likelihood of sunshine.
B. represents an inverse relationship, such as beers consumed and test score.
C. means that the line crosses below the x-axis.
D. represents a direct relationship, such as snow fall and car accidents.
Answer: B
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A country's domestic currency's real exchange rate, q, is best described by
A) the price of similar goods in the same market. B) the price of the domestic basket in terms of the foreign one. C) the price of a domestic basket. D) the price of the foreign basket in terms of the domestic basket. E) the price of different goods baskets in the same market.
If there is currently a recessionary gap, a decrease in aggregate demand would make the recessionary gap larger
a. True b. False Indicate whether the statement is true or false
When there is a positive cross-price elasticity of demand between two goods,
a. they are independent goods b. they are complementary goods c. they are substitute goods d. they are normal goods e. the income elasticity of demand is positive
A monopolist's demand curve implies that
a. the monopolist is a price taker. b. the monopolist is a price maker. c. it has nothing to do with the amount a monopolist can sell. d. it can be downward sloping or horizontal depending on the price.