In the above figure, the slope at point b is
A) 1.
B) 5/2.
C) between 1 and 5/2.
D) greater than 5/2.
C
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Incentives
A) are always used to encourage particular behaviors. B) are always used to discourage particular behaviors. C) can be used to either encourage or discourage particular behaviors. D) are never used to encourage or discourage particular behaviors.
An increase in the price of the U.S. dollar in terms of euros will cause, ceteris paribus,
A. European goods to be cheaper to residents of the United States. B. Higher interest rates in the United States. C. European goods to be more expensive to residents of the United States. D. A lower European inflation rate.
In Figure 5-3, the price elasticity of demand equals __________ between points T and U and equals __________ between points V and W
a.
0.33; 1.86
b.
0.54; 3
c.
3; 0.54
d.
1.86; 0.33
e.
2; 2
The Great Depression of the 1930s
A. confirmed the value of a “hands off” policy for governments. B. was exacerbated by an expansionary monetary policy. C. was a worldwide event. D. continued throughout the 1940s without any interruption.