With y measured on the vertical axis and x measured on the horizontal axis, the slope of a straight line is defined as
A) y/x.
B) x/y.
C) (change in y)/ (change in x).
D) (change in x)/ (change in y).
C
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If recessions are in large part the consequence of coordination failures,
A) government must direct or control private spending to reduce instability. B) stability cannot be achieved without the use of discretionary fiscal policy. C) stability cannot be achieved without the use of discretionary monetary policy. D) the economy is unlikely to respond smoothly and predictably to shifts in government policy.
What is the difference between federal purchases and federal expenditures?
What will be an ideal response?
If there are discouraged workers: a. they are included in the official count of the unemployed
b. the unemployment rate will tend to overstate the true level of unemployment. c. the unemployment rate will tend to understate the true level of unemployment. d. they are considered part of the labor force.
The upward-sloping short run aggregate supply curve shows the ___________ relationship between the price level and the level of real GDP in the short run.
a. positive b. negative c. neutral d. bi-modal