Suppose the cost of producing copper tubing is $1 per foot. If production costs were measured on the vertical axis and quantity of copper tubing were measured on the horizontal axis, which of the following lines would have the smallest slope?
a. a line representing the quantity of tubing measured in inches
b. a line representing the quantity of tubing measured in feet
c. a line representing the quantity of tubing measured in yards
d. the 45-degree line
e. any vertical line
A
Economics
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If the central bank has discretion to make policy, it may create economic fluctuations that reflect the electoral calendar. This is called the political business cycle
a. True b. False Indicate whether the statement is true or false
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In a survey of forecasters toward the end of the financial crisis of 2007-2009, forecast inflation rates for the next decade in the United States were:
A. 4%. B. 7%. C. 0%. D. 2%.
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