The slope of a line that is vertical is:
A. zero.
B. infinite.
C. 1.
D. dependent on where it intersects the horizontal axis.
Answer: B
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For foreign direct investment to occur, the purchase has to be more than
A) 8 percent but less than 10 percent of shares in a business located abroad. B) 5 percent but less than 10 percent of shares in a business located abroad. C) 10 percent of shares in a business located abroad. D) 2 percent but less than 5 percent of shares in a business located abroad.
Which of the following is not included as net income in the U.S. balance of payments?
a. Foreign dividends received by U.S. residents. b. Profits earned by U.S. companies from foreign operations and reinvested abroad. c. U.S. interest paid to foreigners. d. Income paid by a U.S. company to foreign consultants. e. All the above are included as net income in the U.S. balance of payments.
If unskilled labor and capital are substitutes,
A. the price of unskilled labor decreases when the price of capital increases. B. the cross-elasticity between unskilled labor and capital is positive. C. the demand for unskilled labor increases when the price of capital decreases. D. the demand curve for capital is upward sloping. E. the price of capital is increasing.
Answer the following statement(s) true (T) or false (F)
1. The extent to which a change in price affects quantity demanded may vary considerably from product to product and over the various price ranges for the same product. 2. A demand curve, or a portion of a demand curve, can be elastic, inelastic, or supply elastic. 3. A good is elastic if the percentage change in quantity demanded is greater than the percentage change in price. 4. A good is inelastic if quantity demanded changes proportionally less than the price changes 5. The steeper the demand curve passing through a given point, the more elastic the demand.