Given the information in the above table, the relationship between x and y is
A) positive, and the curve becomes flatter as x increases.
B) positive, and the curve becomes steeper as x increases.
C) positive and linear.
D) negative and linear.
C
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Which of the following correctly describes the relationship between economic efficiency and economic equity?
A) There is often a trade-off between the two. B) There is no conflict between the two goals. C) They always call for opposite outcomes. D) They are both automatically achieved in a free market economy.
The major component of federal government consumption is spending on ________
A) Social Security, Medicare and Medicaid B) foreign aid C) capital goods, e.g. highways and schools D) national defense
Dairy price supports have the effect of _____
a. decreasing the value of farmland b. increasing the value of farmland c. destroying farmland d. increasing consumption of dairy products
What determines the size of a shift in aggregate demand that results from a personal income tax cut?
A. The marginal propensity to consume B. The size and permanence of the tax cut C. The level of consumer confidence D. All of these statements affect the size of such a shift.