The figure above shows the relationship between the price of a dozen roses and the quantity of roses a florist can sell. The slope between points C and D equals
A) 8.
B) 4.
C) 2.
D) 1.
E) 12.
D
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Initially, the economy is in long-run equilibrium. Aggregate demand then shifts leftward by $50 billion. The government wants to increase its spending in order to avoid a recession. If the crowding-out effect is always one-third as strong as the
multiplier effect, and if the MPC equals 0.6, then by how much do government purchases have to increase in order to offset the $50 billion leftward shift? a. by $90 billion b. by $60 billion c. by $20 billion d. by $30 billion
Which of the following countries have used adjustments to the required reserve ratio as a primary tool of monetary policy?
A. United States B. India C. Mexico D. China
As the maximum output level (real GDP) is approached, the aggregate supply curve
A. becomes flatter. B. is downward sloping. C. becomes steeper. D. remains unchanged.
A firm's marginal factor cost describes
A. the change in total fixed cost that results from hiring one more unit of input. B. the increase in the firm's total revenue as one more unit of output is sold. C. the change in total cost that results from using one more unit of an input. D. the change in total variable cost that results from the production of an extra unit of output.