The figure above shows the U.S. production function. How would an increase in income taxes be shown in the figure?
A) a movement from point C to point B
B) a movement from point A to point B
C) an upward shift or rotation of the production function
D) a downward shift or rotation of the production function
E) None of the above because the effects of an increase in taxes cannot be shown in the figure.
A
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The figure above shows the relationship between the time a student spends studying and the student's GPA that semester. The slope of the relationship at point A ________ the slope at point B
A) is greater than B) is less than C) is equal to D) cannot be compared to E) can be compared but more information is needed to determine whether the slope is greater than, less than, or equal to
The two most important American business cycle events of the twentieth century were
A) the Great Depression and stagflation. B) World War II and the Great Depression. C) the productivity slowdown and the Great Depression. D) government budget deficits and World War II.