Answer the following statements true (T) or false (F)
1. A linear relationship only refers to one whose graph is either vertical or horizontal.
2. In graphing a relationship between two variables, economists always follow the mathematical convention. Thus, if price is the independent variable then it is measured on the horizontal axis.
3. An assumption is usually made in a two-axes (or two-dimensional) graph that, aside from the two variables under study, the influence of all other variables or factors is assumed to be constant.
4. The slope of a graph measures the rate of change in one variable as the other variable changes.
1. Answer: False
2. Answer: False
3. Answer: True
4. Answer: True
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A tradable emissions permit:
A. entitles a firm to generate a specified amount of a given pollutant. B. is transferable. C. can be used to promote least-cost abatement. D. All of the responses are correct.
The following are all functions of money except
A) medium of exchange. B) store of value. C) unit of account. D) source of anxiety.
Which of the following is NOT a discount bond?
A) a U.S. savings bond B) a U.S. Treasury bill C) a U.S. Treasury note D) a zero-coupon bond
________ inflation is more stable than __________ inflation, because it ____________.
A. Core; headline; excludes food and gasoline prices B. Headline; core; excludes food and gasoline prices C. Core; headline; does not exclude food and gasoline prices D. Headline; core; does not exclude food and gasoline prices