What does the slope of a straight line equal? How is the slope of a curved line calculated?
What will be an ideal response?
The slope of a straight line is calculated between two points on the line. Between the two points on the line, the slope equals the change in the value of the variable measured on the vertical axis (the y-axis) divided by the change in the value of the variable measured on the horizontal axis (the x-axis). The slope of a curved line is calculated at a point on the line. At that point on the curved line, draw a straight line that touches the curved line at only that point. Then, calculate the slope of the straight line. The slope of the curved line at that point equals the slope of the straight line.
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The GDP measures the value of
a. final goods and services. b. intermediate goods only. c. final goods only. d. services only.
Which of the following does not explain the "beauty premium" differences in wages?
a. Better-looking people are preferred by customers; thus, employers will pay them higher wages than average-looking people. b. Beauty may be an indirect measure of other abilities that employers value. c. Average-looking people are preferred by customers; thus, employers will pay them higher wages than better-looking people. d. Employers discriminate in favor of better-looking people.
Which group is responsible for the policy of the Federal Reserve on purchasing and selling government securities?
A. Federal Open Market Committee. B. Thrift Advisory Council. C. Office of Management and Budget. D. Federal Advisory Council.
The small city of Pleasantville is considering building a public swimming pool that costs $1,000. Each resident's marginal benefit of the swimming pool is shown below. It takes a 4/5 majority to pass any tax measure, and all residents must vote. VoterMarginal BenefitKyle$420Dylan$360Fran$350Ronnie$190Sam$170 Kyle proposes that the city auction the right to build the pool to the highest-bidding company. The winning company would be able to charge residents a one-time fee to use the pool as much as they like, and only residents who pay the fee would be allowed to use the pool. If the private company could perfectly price discriminate, then:
A. no private company would bid on the right to build the pool. B. a private company would be willing to bid up to $1,000 to build the pool. C. a private company would be willing to bid up to $1,490 to build the pool. D. a private company would be willing to bid up to $490 to build the pool.