When two variables have a positive correlation,
a. when the x-variable increases, the y-variable decreases.
b. when the x-variable decreases, the y-variable increases.
c. when the x-variable increases, the y-variable increases.
d. More than one of the above is correct.
c
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For an individual consumer, a corner solution may be optimal such that MRS and MRT are not equal,
A) but this is not possible in an Edgeworth Box due to the transitivity of preferences. B) but this is not possible in an Edgeworth Box because price ratios must be positive. C) and this may also occur in an Edgeworth Box. D) and this may only occur in an Edgeworth Box under the perfect complements case.
Suppose nominal GDP in 2009 does not change (compared its previous level in 2008). Given this information, we know with certainty that
A) real GDP increased during 2009. B) the GDP deflator increased during 2009. C) both the GDP deflator and real GDP fell during 2009. D) more information is needed to answer this question.