An increase in demand will:
a. reduce total revenue
b. increase total revenue.
c. increase total revenue only if supply is inelastic.
d. increase total revenue only if supply is inelastic.
b
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Which of the following is held constant in the short-run macro model?
a. GDP b. Prices c. Investment spending d. Consumption e. The money supply
Answer the next question based on the following data. All figures are in billions of dollars.Government purchases$10Consumption115Gross investment35Consumption of fixed capital7Exports11Imports14 This nation's GDP is ________.
A. $163 billion B. $164 billion C. $157 billion D. $171 billion
Technological change
A) generates economic growth. B) shifts the PPF leftward. C) creates inefficiency. D) Both answers A and C are correct.
Only ________ can issue monoline insurance policies
A) life insurance companies B) insurance companies that issue multiple types of insurance C) property insurance companies D) insurance companies that specialize in credit insurance alone