In a graph, a line has a negative slope if
A) the line is vertical.
B) the line is horizontal.
C) the line rises from right to left.
D) the line rises from left to right.
C
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In the above figure, when real disposable income equals 600
A) there is dissaving. B) real disposable income exceeds consumption. C) consumption is less than disposable income. D) consumption equals real disposable income.
In periods of rising prices, percentage increases in nominal GDP will
A. Exceed percentage increases in real GDP. B. Not change in relationship to real GDP. C. Be less than percentage increases in real GDP. D. Equal percentage increases in real GDP.
On a linear demand curve, demand is ________ at the middle of the demand curve than it is at small quantities.
A. more elastic B. less elastic C. equally elastic D. There is insufficient information in the question.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The best point for society would be
A. either Point B or Point C, as the total amount being produced at either of these points is approximately the same. B. at any of the labeled points, as all of the points represent an efficient allocation of resources. C. Point C, as at this point there are approximately equal amounts of LCD and OLED televisions being produced. D. indeterminate from this information, as we don't have any information about the society's desires.