The credit demand curve is:
A) vertical. B) downward sloping.
C) horizontal. D) upward sloping.
B
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Refer to Figure 17-2. Suppose the market price of bracelets falls to $2. What happens to the curve given in the diagram?
A) The curve shifts to the left. B) Nothing, because labor's productivity has not changed. C) There will be a movement along the curve. D) We cannot answer the question without knowing if Becca would want to hire more workers.
The average tax rate is calculated as
A) total income divided by the total tax paid. B) the change in income divided by the change in total tax paid. C) total tax paid divided by total income. D) the change in total tax paid divided by the change in income.
If two variables are inversely related, then they change in the same direction
a. True b. False Indicate whether the statement is true or false
If a change in the price of a good causes no change in total revenue
a. the demand for the good must be elastic. b. the demand for the good must be inelastic. c. the demand for the good must be unit elastic. d. buyers must not respond very much to a change in price.