An upward-sloping line or curve is used to illustrate:
a. a direct relationship. b. an inverse relationship.
c. two unrelated variables. d. the ceteris paribus assumption.
a
Economics
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According to the text, what is not a pre-condition for factory production and industrialization?
a. Standardized parts b. Sufficient power and energy c. Continuous process production d. A sufficiently centralized administrative structure
Economics
Which of the following is true of both a tradable permit system and the assignment of property rights? a. Both methods result in socially optimal consumption. b. Both methods result in a deadweight loss to the society
c. Both methods ensure that the Coase theorem does not increase the welfare of an economy. d. Both methods push the economy into a liquidity trap.
Economics