Dividing the change in quantity on the Y-axis by the change in quantity on the X-axis calculates the slope of a line.
Answer the following statement true (T) or false (F)
True
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A currency appreciation should
A. reduce net exports and therefore increase aggregate demand. B. raise net exports and therefore decrease aggregate demand. C. reduce net exports and therefore decrease aggregate demand. D. raise net exports and therefore increase aggregate demand.
Political candidates tend to be very similar in a representative democracy because _____
a. most candidates are wealthy b. the average voter demands conformity c. of cyclical majorities d. party platforms converge toward the median voter
Which of the following is true for a firm that is a monopolist?
a. the firm will make an economic profit in the short run. b. the firm will produce a smaller quantity of output than what would be best from the viewpoint of ideal economic efficiency. c. the additional revenue that can be generated from an increase in output will exceed the firm's price. d. the firm can charge whatever it wants for its product since consumers have no alternatives.
In the context of insurance, moral hazard refers to:
A. when risks are shared across many different assets or people, reducing the impact of any particular risk on any one individual. B. the tendency for high-risk individuals to seek out more insurance than low-risk individuals. C. when people organize themselves in a group to collectively absorb the cost of the risk faced by each individual. D. the tendency for people to behave in a riskier way after they have acquired insurance.