Compared to the closed economy Keynesian model, the open economy model in which imports are a function of income has an investment multiplier that is
a. smaller.
b. larger.
c. equal.
d. equal to 1.
A
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Suppose y is measured on the vertical axis, x is on the horizontal axis, and the various combinations of x and y are shown by a nonvertical straight line. Which of the following must be true?
a. There is a negative relation between x and y. b. There is a positive relation between x and y. c. There is a causal relation between x and y. d. If the value of x is known, the value of y can be determined. e. The value of y is independent of the value of x.
The national manifest system,
a. tracks only the most toxic hazardous wastes b. tracks hazardous and nonhazardous wastes from the point of generation to disposal c. was eliminated with the 1984 RCRA amendments d. is a market-based approach aimed at achieving an efficient solution e. none of the above
Economic theory indicates that the amount consumed of a natural resource depends on
a. the price of the resource. b. consumer income. c. the price of substitute resources. d. all of the above.