The relationship between the number of hours a student studies for an exam and the exam grade is most likely graphed as
A. a line sloping up from lower right to upper left.
B. a line sloping up from lower left to upper right.
C. a horizontal or flat line.
D. a line sloping down from upper left to lower right.
Answer: B
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A prohibitive tariff has
A) only revenue effects. B) only protective effects. C) both protective and revenue effects. D) neither protective nor revenue effects.
The reason food prices rose so little in 1916–19 was the extraordinary increase in output from the nation's farms
Indicate whether the statement is true or false
A theory can best be defined as
a. an untested assertion of untested fact. b. a collection of assumptions that simplify the real world. c. an opinion of a reliable person who studies a subject or discipline. d. a deliberate simplification of factual relationships that attempts to explain how those relationships work. e. the body of knowledge that has been scientifically verified by the scientific community.
If an economy produces 1,000 units of output with a price level of $5 and the money supply (M) is $1,000, velocity is:
A. 50. B. 200. C. 5. D. 2.