In a logarithmic scale ________
A) the ratio of capital to labor is constant
B) the vertical axis lies along the horizontal axis
C) equal distances reflect the same percentage change
D) values along the vertical axis correspond to the square root of values along the horizontal axis
C
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If the quantity of credit demanded in a market exceeds the quantity of credit supplied in the market:
A) the real rate of interest tends to rise. B) the unemployment rate tends to fall. C) the rate of inflation tends to rise. D) the real rate of interest tends to fall.
Round-trip airline tickets are usually cheaper if you stay over a Saturday night before you fly back. What is the reason for this price discrepancy?
a. Airlines are practicing imperfect price discrimination to raise their profits. b. Airlines charge a different rate based on the different nature of peoples' travel needs. c. Airlines are attempting to charge people based on their willingness to pay. d. All of the above are correct.
One reason that U.S. exports of commercial services have increased steadily over the past 25 years is that
A. the U.S. government owns and operates most of the economy's service sector. B. the United States has made significant investments in new information technologies. C. the U.S. economy operates like one big corporation. D. European and Asian nations have shown little interest in developing their own commercial services sectors.
According to the quantity theory of money, if the money supply grows at 20 percent and real GDP grows at 5 percent, then the inflation rate will be
A) 15 percent. B) 20 percent. C) 25 percent. D) 100 percent.