When an inverse relationship is graphed, the resulting line or curve is:
a. upward-sloping.
b. horizontal.
c. downward-sloping.
d. vertical.
c
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The economist who developed the checkerboard model of neighborhood segregation was
A) Milton Friedman. B) Thomas Schelling. C) John Nash. D) David Ricardo.
Which of the following examples definitely illustrates an appreciation of the U.S. dollar?
A) The dollar exchanges for 120 euros and then exchanges for 100 euros. B) The dollar exchanges for 100 yen and then exchanges for 125 euros. C) The dollar exchanges for 1 pound and then exchanges for 1.2 pounds. D) none of the above
When all players in a game choose the best strategy they can, given the choices of all other players, it is always a:
A. Nash equilibrium. B. positive-positive outcome. C. cooperative equilibrium. D. negative-negative equilibrium.
Economic profit equals gross earnings minus the firm's direct costs
a. True b. False Indicate whether the statement is true or false