When demand is elastic, an increase in price leads to:
A. a decrease in total expenditures.
B. an undetermined change in expenditures.
C. an increase in total expenditures.
D. no change in total expenditures.
A. a decrease in total expenditures.
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When private ownership rights are well-defined and enforced, owners
a. can ignore the wishes of others, without bearing the cost. b. have little incentive to take care of things. c. can do anything they want with their property. d. can be held accountable for damage to others through misuse of their property.
Suppose that the demand and supply of money are initially in equilibrium, and that the demand for money increases. A monetary authority interested in keeping the money supply constant and the interest rate low must _____
Fill in the blank(s) with the appropriate word(s).
Which of the following is a feature of an M-Form organization?
a. divisions have difficulty responding to changes in customer demand b. it is difficult to maintain customer relationships c. coordination across divisions is simple and does not take much management time d. employee evaluation is hampered by managers often having different skill sets than those the manage
If the economy is experiencing lower levels of unemployment, the short-run Phillips curve suggests that ____ additional employment can be purchased at ____ rates of inflation
a. greater; relatively low b. greater; higher c. lower; lower d. No such employment-inflation relationship is suggested by the Phillips curve.