Two variables are negatively correlated if:
A. they move in the same direction.
B. they move in the opposite direction.
C. their movements tend to be unrelated.
D. one is simply a multiple of the other.
B. they move in the opposite direction.
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When demand is elastic, a fall in price causes total revenue to rise because
A) the percentage increase in quantity demanded is less than the percentage fall in price. B) the demand curve shifts. C) when price falls, quantity sold increases so total revenue automatically rises. D) the increase in quantity sold is large enough to offset the lower price.
Which of the following (if any) is not a factor affecting the profit performance of firms:
a. differential risk b. innovation c. managerial skills d. existence of monopoly power e. all of the above are factors
Which of the following is true?
a. As the national debt increases relative to GDP, interest on the debt relative to GDP declines. b. As the national debt decreases relative to GDP, interest on the debt relative to GDP rises. c. As the national debt increases relative to GDP, interest on the debt relative to GDP rises. d. The national debt relative to GDP has been constant in recent years. e. The national debt relative to GDP has been falling in the last few years.
Which of the following is not a way in which high inflation reduces productivity?
a. High rates of inflation increase menu costs. b. Rapid inflation destroys work incentives and encourages speculation. c. Variable rates of inflation create insecurity. d. High inflation rates also have the power to deteriorate international competitiveness. e. High rates of expected inflation increase the real interest rate and thus reduce investment.