If the change in the y-axis variable is 4 and the change in the x-axis variable is 2, the slope of this line is 1/2

In a goods market, sellers have higher bargaining power if:

A) the good being traded has close substitutes. B) there are several firms in the industry. C) there are just a few firms in the industry. D) there are just a few buyers in the market.

Related to the Economics in Practice on p. 647: Surveys by the bank of England suggest that consumers tend to expect future inflation to be

A. relatively unpredictable. B. what they perceive past inflation to have been. C. directly related to the interest rate. D. equal to the actual estimates of past inflation made by the government.