As you move from left to right, the aggregate demand curve _____.

(A) May slope upward or downward
(B) Slopes upward
(C) Slopes downward
(D) Is horizontal

Ans: (C) Slopes downward

Economics

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You own a stock that you think will produce a return of 11 percent in a good economy and 3 percent in a poor economy. Given the probabilities of each state of the economy occurring, you anticipate that your stock will earn 6.5 percent next year. Which one of the following terms applies to this 6.5 percent?

A. arithmetic return B. historical return C. expected return D. geometric return E. required return

Economics

If a consumer's budget line between meat and potatoes has a vertical axis intercept at 100 pounds of meat and a horizontal axis intercept at 100 pounds of potatoes

a. demand must be inelastic b. the consumer's budget must equal $100 c. both meat and potatoes must be priced at $1 per pound d. the price of a pound of meat must equal the price of a pound of potatoes e. the opportunity cost of meat in terms of potatoes cannot be determined

Economics