Along a curve, when one variable increases, the other variable decreases. The curve showing this relationship
A) might be horizontal.
B) has a positive slope.
C) has a negative slope.
D) has an increasing then a decreasing slope.
C
You might also like to view...
Refer to Figure 10-8. If the price of biscotti is $1.50 and the price of a cappuccino is $3.00, what is the slope of the budget constraint?
A) -(3.00 - 1.50 )/(3.00 + 1.50 ) = -1/3 B) -2 C) -1/2 D) The slope cannot be determined without the value of income.
Which of the following is a justification for transfer payments?
a) transfers can create a more ethically acceptable income distribution b) income redistribution provides insurance against misfortune c) poverty creates negative externalities such as crime and disease d) myopic individuals make time-inconsistent saving decisions e) all of the above
A movement from one point to another point on the same consumption function could be caused due to
A. changes in wealth. B. an increase in the general price level. C. decrease in the real interest rates. D. changes in disposable income.
You are a hotel manager and you are considering four projects that yield different payoffs, depending upon whether there is an economic boom or a recession. The potential payoffs and corresponding payoffs are summarized in the following table.ProjectBoom (50%)Recession (50%)A$20-$10B-$10$20C$30-$30D$50$50Which project has the greatest expected value?
A. A B. B C. C D. D