Based on the information in the table above, what is the relationship between x and y?
A) direct
B) inverse
C) positive
D) No relationship exists between x and y.
B
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Induced taxes are defined as taxes
A) that vary with real GDP. B) enacted by Congress that explicitly state the amount to be paid. C) we are forced to pay for services from the government. D) that rise in recessions and fall in expansions. E) that are avoided with the use of legal tax shelters.
Which of the following statements is CORRECT?
A) A firm does not need to take into account its sunk cost when making current decisions. B) Long-run decisions are easily reversed. C) Short-run decisions are not easily reversed. D) In the long run, a firm can change its plant but not the quantity of its labor.
Which of these statements correctly explains the shape of the aggregate demand curve? a. As prices fall, nominal income rises and so does the demand for real goods and services
b. Rising prices reduce people's wealth and thereby decrease spending. c. With falling prices, government decides to spend less to increase the price level. d. Businesses increase investment spending in response to higher interest rates caused by inflation. e. As prices fall, domestically produced goods become more expensive relative to foreign goods, resulting in an increase in production.
The marginal propensity to save is
a. the change in saving induced by a change in consumption b. (change in S) × (change in Y) c. 1 – MPC/MPC d. (change in Y – bY)/(change in Y) where b is the MPC e. 1 – MPC