When two variables move in opposite directions, the curve relating them is
a. upward sloping, and we say the variables are positively related.
b. upward sloping, and we say the variables are negatively related.
c. downward sloping, and we say the variables are positively related.
d. downward sloping, and we say the variables are negatively related.
d
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If we are interested in knowing whether a poor country is improving economically, we want to know not only what the economic growth rate is, but also
A) whether the economic growth rate is faster than other nations' growth rates. B) whether government spending is growing at the same rate. C) whether the economic growth rate is greater than last year's rate. D) whether the lowest income groups are benefiting from the growth.
For an individual's supply curve of labor to be upward sloping:
a. the substitution effect must be greater than the income effect. b. the substitution effect must be equal to the income effect. c. the substitution effect must be less than the income effect. d. is an impossibility.