The relationships between elasticity and total revenue hold because:
a. total revenue equals price divided by quantity demanded
b. total revenue equals price times quantity demanded
c. a drop in price has two opposing effects on the two components of the formula
d. both b and c
d
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What is the "doom loop" responsible for the rapid development and severity of the 2009 euro crisis?
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Bill Bonecrusher graduates from college with a choice of playing professional football at $2 million a year or coaching for $50,000 a year. He decides to play football, but eight years later he quits football to make movies for $3 million a year
His opportunity cost at graduation was ________ and eight years later was ________. A) $50,000; $2 million B) $2 million; $2 million C) $2 million; $3 million D) $50,000; $50,000
A forecaster used the regression equationQt = a + bt + c1D1 + c2D2 + c3D3and quarterly sales data for 1996 I - 2013 IV (t = 1, ..., 64) for an appliance manufacturer to obtain the results shown below. Q is quarterly sales, and D1, D2 and D3 are dummy variables for quarters I, II, and III. 
Using a 5 percent significance level, these estimation results indicate that sales in
A. the first quarter are greater than sales in any other quarter. B. the second quarter are greater than sales in any other quarter. C. the third quarter are greater than sales in any other quarter. D. the fourth quarter are greater than sales in any other quarter.