The slope of a straight line is
A) always equal to zero.
B) calculated as y/x at any point.
C) constant.
D) always greater than zero.
C
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If an economy were experiencing a high rate of unemployment as the result of insufficient aggregate demand, a Keynesian economist would favor:
a. a reduction in taxes coupled with a reduction in government expenditures of equal size. b. an increase in government expenditures coupled with an increase in taxes of equal size. c. a reduction in taxes, without any offsetting reduction in government expenditures. d. maintenance of a balanced budget.
If a company's total costs per day increase from $200 to $400 by adding another worker, but its additional benefits are $300, it is sensible to add that additional worker.
Answer the following statement true (T) or false (F)
If a 10 percent change in the price of a good caused a 10 percent change in the quantity demanded of the good, we would say that over this range of prices the good has a(n)
A) elastic demand. B) inelastic demand. C) perfectly elastic demand. D) unit elasticity of demand.
If labor productivity increases
A) labor costs rise by equal increments. B) the demand for labor increases. C) some workers will be laid off. D) jobs will relocate.