A decrease in total revenue will result if
A) demand is inelastic and price increases.
B) demand is elastic and price increases.
C) demand is elastic and price decreases.
D) demand is unitary elastic and price decreases.
Answer: B
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When the Chinese government buys U.S. government bonds, from the perspective of the United States, this is a(n):
A. capital inflow. B. export. C. import. D. capital outflow.
Marginal productivity theory implies that in a perfectly competitive market economy, a worker will receive income
A) that is less than the value of her marginal contribution to the production process. B) equal to the value of her marginal contribution to the production process. C) that is greater than the value of her marginal contribution to the production process. D) greater than, less than, or equal to the value of her marginal contribution to the production process, depending on her ability to negotiate with employers.
If you win $1 million in a lottery and are paid in installments,
a. the future value of these payments is $1 million b. the present value of these payments equals $1 million if the interest rate is zero c. the present value of these payments equals $1 million if the interest rate is 10 percent annually d. the present value of the payments exceeds $1 million if the interest rate is positive e. the future value of the payments is less than $1 million if the interest rate is negative
The currency of the European Union, the euro, was established as part of the Bretton Woods agreements
a. True b. False Indicate whether the statement is true or false