When demand is inelastic, a decrease in price will result in an increase in total revenue.
Answer the following statement true (T) or false (F)
False
You might also like to view...
The expected future exchange rate has ________ on the supply of dollars and has ________ on the demand for dollars
A) no effect; no effect B) an effect; no effect C) an effect; an effect D) no effect; an effect E) an effect sometimes; an effect sometimes
The GDP gap is:
a. the product of the potential real GDP and the equilibrium level of real GDP. b. the distance between the current level of real gross domestic product and full employment real GDP. c. the difference between potential real GDP and the equilibrium level of real GDP. d. the difference between the present value of all of government's projected financial obligations and the present value of all projected future tax and other receipts. e. the difference between the actual output of an economy and its potential output.
How does expanding worldwide trade produce gains for all the nations that participate?
What will be an ideal response?
If the MPC = 0.9 and a household obtains $20,000 more dollars then how much would the household spend of the additional $20,000?
A. $20,000 B. $2,500 C. $18,000 D. $17,500