The slope of a line is equal to
a. the change in the value of x divided by the change in the value of y.
b. the change in the value of y divided by the change in the value of x.
c. the horizontal distance divided by the vertical distance.
d. the value of y divided by the value of x.
b
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The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
The crowding-out effect refers to
A) government spending crowding out private spending. B) private saving crowding out government saving. C) government investment crowding out private investment. D) private investment crowding out government saving.
A nation’s capital stock is increased by increases in
A. consumption spending. B. government spending. C. investment spending. D. net exports.
If the price of an input falls, a firm would increase the use of that input for two reasons:
a. The input is now more productive, and the firm can substitute this input for other relatively more expensive inputs. b. The input is now more productive, and overall production costs are now lower, meaning a firm may choose to increase production. c. Overall production costs are now lower and the firm can substitute this input for other relatively more expensive inputs. d. Overall production costs are now lower and the firm will have more of other inputs to use with the one in question.