When it comes to the supply curve of janitors and accountants,
A) the supply curve of janitors is more elastic.
B) the supply curve of accountants is more elastic.
C) both supply curves are equally elastic.
D) More information is needed.
A
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A Minnesota snowmobile dealer lowers its prices in February by 16 percent and the quantity demanded increases by 2 percent. Thus the demand for snowmobiles from this dealer is ________ and the dealer's total revenue will ________
A) elastic; increase B) elastic; decrease C) inelastic; increase D) inelastic; decrease E) unit elastic; decrease
For barter exchange to take place,
a. there has to be a coincidence of wants. b. the products in question have to be divisible. c. money has to be used to put a value on the transaction. d. there has to be a single coincidence of wants. e. gold has to be one of the goods traded.
Investment is _________ related to the interest rate, and NCO is __________ related to the interest rate.
A. negatively; negatively B. negatively; positively C. positively; positively D. positively; negatively
When demand is inelastic and price? decreases:
A) the effect of the decrease in price on total revenue dominates the effect of the increase in quantity demanded on total revenue; overall total revenue declines.
B) the effect of the increase in quantity demanded on total revenue dominates the effect of the decrease in price on total revenue; overall total revenue increases.
C) the effects of the decrease in price on total revenue and the corresponding increase in quantity demanded on total revenue perfectly offset one another; overall total revenue remains unchanged.
D) quantity demanded and total revenue fall to zero.