Refer to the information provided in Figure 1.1 below to answer the question(s) that follow.
Figure 1.1Refer to Figure 1.1. There is ________ relationship between the daily temperature and the number of gallons of ice cream purchased.
A. both a negative and a positive
B. a positive
C. an inverse
D. a negative
Answer: B
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Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher
A country that is borrowing more from the rest of the world than it is lending is called a
A) net debtor. B) net loaner country. C) net lender. D) net borrower. E) net creditor.
In the short run, even if a monopoly's total revenue does not cover its variable costs, it should continue to produce because ultimately in the long run, the monopoly will start earning profits
Indicate whether the statement is true or false
The real-balance effect refers to
A) the real interest rate. B) the production of real goods and services as opposed to financial instruments. C) the prices of goods and services. D) the real value of cash balances that a person is holding.