In the table above, Y is measured along the y-axis and X along the x-axis. The slope between points c and d is
A) 100.
B) 0.
C) 0.25.
D) -4.
B
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Refer to Figure 1A.2. If this consumer rents 60 DVDs, how many movie tickets will she purchase?
A) 0 B) 5 C) 10 D) 15
An increase in the price of jet fuel will ________ airline travel and the equilibrium quantity of airline travel will ________
A) decrease the supply of; decrease B) increase the demand for; increase C) decrease the supply of; increase D) decrease the demand for; decrease
The government raises gasoline taxes as part of the price of gasoline and receives more tax revenues. However, after five years, the government discovers that revenues from the gasoline tax have declined
This situation would be most likely to occur if A) the long-run elasticity of supply was much greater than the long-run elasticity of demand. B) the demand for gasoline was inelastic in the short run, but elastic in the long run. C) the long-run elasticity of demand was greater than the long-run elasticity of supply. D) the demand for gasoline was perfectly inelastic in both the short run and the long run.
The major difference between nominal GDP and real GDP is that
A. real GDP is the absolute value of goods and services and nominal GDP is a relative value. B. real GDP refers to products made in the United States and nominal GDP refers to both exports and imports. C. nominal GDP is the market value and real GDP has been adjusted for inflation. D. real GDP is a relative value and nominal GDP is an absolute value.