Economists:
A. always put the independent variable on the horizontal axis and the dependent variable on
the vertical axis.
B. always put the dependent variable on the horizontal axis and the independent variable on
the vertical axis.
C. are somewhat arbitrary in assigning independent and dependent variables to the horizontal
and vertical axes.
D. measure the slope of a line differently than do mathematicians.
Answer: C
You might also like to view...
Refer to Figure 9-3. With a quota in place, what is the quantity consumed in the domestic market and what portion of this is supplied by imports?
A) Domestic consumption equals 40 million pounds of which 22 million pounds are imports. B) Domestic consumption equals 34 million pounds of which 18 million pounds are imports. C) Domestic consumption equals 34 million pounds of which 16 million pounds are imports. D) Domestic consumption equals 28 million pounds of which 18 million pounds are imports.
For a firm in a perfectly competitive market, a price decrease:
A. increases the profit-maximizing quantity. B. lowers the profit-maximizing quantity. C. is unrelated to the profit-maximizing quantity. D. signifies the firm should leave the market.