The slope of a line equals the
A) change in the variable measured along the x-axis divided by the change in the variable measured along the y-axis.
B) change in the variable measured along the y-axis divided by the change in the variable measured along the x-axis.
C) change in the variable measured along the x-axis minus the change in the variable measured along the y-axis.
D) change in the variable measured along the x-axis multiplied by the change in the variable measured along the y-axis.
B
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Based on the model of the money market, when real income decreases, the equilibrium interest rate should
A) stay the same. B) increase. C) decrease. D) increase to the same extent that the supply of money increases.
A firm earning economic losses should operate in the short run as long as
A) the price per unit sold is greater than the average fixed cost per unit produced. B) the price per unit sold is greater than the average variable cost per unit produced. C) marginal revenue is at least the price per unit sold. D) the price per unit sold is equal to or greater than the marginal cost of production.