In the linear equation y = mx + b, m is the:
A. vertical intercept.
B. variable on the horizontal axis.
C. variable on the vertical axis.
D. slope.
Answer: D
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The slope of the production possibilities frontier is defined to be the marginal rate of
A) transformation. B) technical substitution. C) substitution. D) profit.
In many cases, it is reasonable to refer to the ________________ as the price.
a. budget constraint b. sunk cost c. opportunity cost d. budget constraint
Most economists agree that the immediate cause of the large majority of cyclical changes in the levels of real output and employment is unexpected changes in:
What will be an ideal response?
Explain why in an economy with fixed exchange rates, monetary policy will not cause expenditure switching
What will be an ideal response?