When two variables move in the same direction, the curve relating them is
a. upward sloping, and we say the variables are positively related.
b. upward sloping, and we say the variables are negatively related.
c. downward sloping, and we say the variables are positively related.
d. downward sloping, and we say the variables are negatively related.
a
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In a simultaneous move game, ________
A) each player has to make his choice after knowing his rival's choice B) each player has to make his choice without knowing his rival's choice C) there is always more than one Nash equilibrium D) there is always more than one dominant strategy equilibrium
What do the foreign leaders investing in the industrial enclaves of developing countries of today have in common with those foreign investors who helped colonize North America?
(a) Both sets of leaders exploit the labor of the indigenous people. (b) Both expect to make personal and business sacrifices, take on risks and gain something of high expected value. (c) Both are driven primarily by their desires to extract materials for high profits. (d) Both strive to boost agricultural profits in international markets in the developing countries in which they invest.
If the electric company is allowed by regulators to earn only a normal profit, it will produce at the point where
a. MR = MC b. P = MC c. MC = quantity demanded d. P = AC e. MR = AC
The United States does not impose tariffs or quotas; however, many of its trading partners do have these trade restrictions
a. True b. False