Which of the following statements is true?
A) Exponential growth refers to growth by the same amount in every time period.
B) To depict variables that have exponential growth, it is more convenient to use an axis with a proportional scale.
C) Linear growth refers to growth by the same proportion in every time period.
D) To depict variables that have exponential growth, it is more convenient to use an axis with a linear scale.
Consider two countries: country A and country B. At the beginning of year 2010, the GDP per capita in both countries is $2,400. The annual growth rate of output in country A is 3%, while the annual growth rate of output in country B is 5%.
B
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Refer to Figure 17-4. Which of the following is true at W0?
A) The substitution effect is larger than the income effect. B) The income effect and the substitution effect are equal. C) The income effect is larger than the substitution effect. D) The supply curve is positively sloped.
Scarcity impels an individual to make choices
a. True b. False Indicate whether the statement is true or false