As we move downward and to the right along a linear, downward-sloping demand curve,
a. both slope and elasticity remain constant.
b. slope changes but elasticity remains constant.
c. both slope and elasticity change.
d. slope remains constant but elasticity changes.
d
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The federal budget was in deficit from 1931 to 1939, except in the year 1937
Given this fact, how do you explain E. Cary Brown's statement, "Fiscal policy, then, seems to have been an unsuccessful recovery device in the 'thirties-not because it did not work, but because it was not tried."
Empirical observations on actual North-South trade patterns tend to
A) support the validity of the Heckscher-Ohlin model. B) support the validity of the Leontief Paradox. C) support the validity of the Rybczynski Theorem. D) support the validity of the wage equalization theorem. E) support the validity of the neo-imperialism exploitation theory.