If, when the price falls, total revenue increases, demand is
A) elastic.
B) inelastic.
C) unit elastic.
D) perfectly inelastic.
E) None of the above answers is correct because total revenue always decreases when the price of the good falls.
A
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How is the effect of expansionary monetary policy depicted in an aggregate supply-aggregate demand graph?
A) The aggregate demand curve shifts rightward. B) The aggregate supply curve shifts leftward. C) The equilibrium level of income increases, but neither curve shifts. D) The aggregate supply curve shifts rightward.
Human capital is defined as
a. the skills and knowledge possessed by workers b. the tools used by labor c. equipment and machinery used to train workers d. buildings purchased by households rather than by businesses e. equipment and machinery used to aid household production and increase available leisure time
?For 2.5% significance level, the asymptotic critical value for cointegration test with linear time trend is -3.59.
Answer the following statement true (T) or false (F)
If farm state legislators support the food-stamp program to aid the urban poor and urban state legislators in turn support farm subsidies, this is an example of:
A. the special-interest effect. B. political logrolling. C. the paradox of voting. D. cost-benefit analysis.