When an independent relationship is graphed, the resulting line or curve is:
a. upward-sloping

A typical wheat farmer would never consider cost-plus-markup pricing because

A) he cannot clearly estimate his costs. B) the most profitable price he can ask for is the prevailing market price. C) the government won't allow it. D) he is a price searcher.

Which of the following would be most likely to induce Congress and the president to conduct contractionary fiscal policy? A significant

A) decrease in oil prices. B) increase in labor productivity. C) increase in inflation. D) decrease in real GDP.