Along the elastic range of a demand curve, a decrease in price causes:
a. no change in total revenue.
b. a decrease in total revenue.
c. an increase in total revenue.
d. an unpredictable change in total revenue.
c
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Everything else equal, if the dollar appreciates against the peso:
A) U.S. will export more to Mexico and will import less from Mexico. B) U.S. exports to Mexico and imports from Mexico will decrease. C) U.S. exports to Mexico and imports from Mexico will increase. D) U.S. will import more from Mexico and will export less to Mexico.
Which of the following is a checkable deposit?
A) a NOW account B) a money market deposit account C) a certificate of deposit D) a savings account
A shortage of kidneys (for transplants) results from
A) the legal price being set below the equilibrium price. B) the legal price being set above the equilibrium price. C) a price floor being set in the kidney market at P = $0, assuming the equilibrium price is greater than $0. D) a price ceiling being set in the kidney market at P = $0, assuming the equilibrium price is greater than $0. E) a and d
The term opportunity cost refers to
A. The minimum price that a producer will accept for a product. B. The most a consumer is willing to exchange to get an item. C. The slope of the demand line for a consumer or slope of the supply line for the producer. D. All of the choices are correct.