If total revenue is unrelated to price, then demand is unitary elastic.
Answer the following statement true (T) or false (F)
True
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According to Okun's Law, if real GDP grows by 4% over a year, unemployment is likely to ________
A) increase by 0.5% B) decrease by 0.5% C) decrease by 1% D) increase by 1%
"Stocks and bonds" are collectively known as
A) securities. B) equities. C) real property. D) shares.
The decision by the Municipal Transit Authority to either refurbish existing buses, buy new large buses, or to supplement the existing fleet with mini-buses is an example of:
a. independent projects b. mutually exclusive projects c. contingent projects d. separable projects e. none of the above
A decrease in demand and an increase in supply results in a(n)
a. decrease in equilibrium price and an ambiguous effect on equilibrium quantity b. increase in equilibrium price and an ambiguous effect on equilibrium quantity c. ambiguous effect on equilibrium price and an increase in equilibrium quantity d. ambiguous effect on equilibrium price and an decrease in equilibrium quantity e. increase in equilibrium price and a decrease in equilibrium quantity