Budget lines are drawn on a diagram with the
A) price of the good on the vertical axis and its quantity on the horizontal axis.
B) price of one good on the vertical axis and the price of another good on the horizontal axis.
C) quantity of the good on the vertical axis and its price on the horizontal axis.
D) quantity of one good on the vertical axis and the quantity of another good on the horizontal axis.
D
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Which of the following statements is true?
A) A curved line has slope values that change at every point. B) An inverse relationship has a positive slope value. C) A straight line has a slope of one. D) A direct relationship has a negative slope value.
The Argentine banking crisis of 2001 resulted from Argentina's banks being required to
A) purchase large amounts of government debt. B) pay back the value of failed loans. C) make risky real estate loans. D) make loans to only state-owned businesses.
If long-run equilibrium is present in a competitive market, the typical firm in the market will be
a. making economic losses. b. making zero economic profit. c. making economic profit. d. making a rate of return that is higher than the rate earned in other industries. e. both c and d are correct.
The Environmental Protection Agency was established by the ______.
a. Endangered Species Act of 1973 b. Environment Act of 1986 c. Clean Air Act of 1970 d. Civil Rights Act of 1964