Total revenue will rise if
A. demand for a good is inelastic and its price rises.
B. demand for a good is elastic and its price rises.
C. demand for a good is inelastic and its price falls.
D. None of these choices are true.
A. demand for a good is inelastic and its price rises.
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According to classical economists, in recessions, the government should
A) stimulate the economy to increase demand. B) actively use fiscal policy to combat the recession. C) increase the minimum wage so that poor people will be able to afford necessities. D) eliminate barriers to labor market adjustment, such as burdensome regulations on businesses.
All of the following aim to reduce income inequality EXCEPT
A) Social Security payments. B) earned income tax credits. C) regressive taxes. D) food stamp programs.
Which of the following is a cash transfer received from the government?
a. Medicaid b. Earned Income Tax Credit c. Food stamps d. Housing assistance e. Free education
If using the same resources, the U.S. workers can produce more of any good than Mexican workers, then the United States should produce every good
a. True b. False Indicate whether the statement is true or false