If x increases and as a result y decreases, then x and y are
A) not related because the relationship is a causal one.
B) positively related.
C) negatively related.
D) directly related.
E) trend-line related.
C
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The demand for money schedule shows the ________ relationship between money demand and the nominal interest rate which means that as the ________
A) negative; opportunity cost of holding money increases, the nominal interest rate increases B) negative; nominal interest rate increases, the opportunity cost of holding money increases C) positive; nominal interest rate increases, the opportunity cost of holding money increases D) positive; nominal interest rate increases, the opportunity cost of holding money decreases E) negative; nominal interest rate increases, the opportunity cost of holding money decreases
Which is the most likely reason why more students continue on to graduate school when the economy is in bad shape and job prospects are poor?
A) They finally see the value of continuing their education. B) They are pressured by parents to stay in school a few more years. C) Their opportunity cost of attending college has fallen. D) They are irrational in this case, as they will have to take on more debt to finance the graduate degree.
Using the Lorenz curve, the degree of income inequality is measured by
a. The line connecting all points for which a given percentage of families receives exactly the cumulative percentage of income b. the distance of the Lorenz curve from the line of perfect equality c. the flat diagonal line that applies to a perfectly elastic demand curve d. the number of times the Lorenz curve crosses the line of perfect equality e. is derived by dividing the number of people below the poverty line by the total population
Consumers express self-interest when they:
a. Reduce business losses b. Search for jobs with the highest wages c. Collect economic profits d. Seek the lowest price for a product