Given a linear curve, the value on the y-axis changes from 120 to 100 when the value on the x-axis changes from 10 to 20, then the slope of that curve is
A) -20.
B) +20.
C) -2.
D) +2.
Answer: C
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Why is the long-run aggregate supply curve a vertical line?
A) At that level of real GDP, the production costs are at their lowest level. B) At that level of real GDP, production costs have fully adjusted to price changes. C) At that level of real GDP, the unemployment rate is 0 percent. D) At that level of real GDP, the inflation rate is 0 percent.
Suppose the official unemployment rate is 10 percent. Which of the following is a definite conclusion to draw?
What will be an ideal response?
Refer to Table 1-2. What is Thuy Anh's marginal cost if she decides to stay open for an extra three hours instead of two hours?
A) $0 B) $16 C) $25 D) $32 E) $45
Refer to Figure 27-11. If government purchases increase by $100 billion and lead to an ultimate increase in aggregate demand as shown in the graph, the difference in real GDP between point A and point B will be
A) less than $100 billion. B) $100 billion. C) more than $100 billion. D) There is insufficient information given here to draw a conclusion.