Along a downward-sloping, linear demand curve, total revenue is the greatest
A) where demand is normal.
B) where demand is the most inelastic.
C) where demand is the most elastic.
D) where demand is unit elastic.
Answer: D
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A good example of a policy to increase an economy's saving rate is ________
A) to reduce poverty B) to increase the economic growth rate C) to increase government spending D) to reduce interest rates E) to increase sales taxes
A measure of sensitivity or responsiveness to changes in price or income is called
a. elasticity b. technology c. supply and demand d. social pressure e. kickback
If $1 is worth .8 Canadian dollars, then 1 Canadian dollar is worth:
A. $1.80. B. $1.25. C. $0.20. D. $0.80.
If the price of pizza is $10 this year and $15 next year, then 200 pizzas would contribute
A. $2,000 to this year’s GDP and $2,000 to next year’s nominal GDP. B. $3,000 to this year’s nominal GDP and $3,000 to next year’s nominal GDP. C. $2,000 to this year’s nominal GDP and $3,000 to next year’s nominal GDP. D. $3,000 to this year’s GDP and $2,000 to next year’s GDP.