Refer to the scenario above. What is the change in total revenue due to the price reduction?
A) The total revenue increases by $25.
B) The total revenue increases by $50.
C) The total revenue decreases by $105.
D) The total revenue decreases by $175.
B
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The dollar demand curve in the foreign exchange market is:
A) vertical. B) downward sloping. C) upward sloping. D) horizontal.
In response to accounting scandals in 2002, the federal government passed legislation requiring among other things that auditors disclose any potential conflicts of interest. What is the name of this legislation?
A) the Kennedy-Lott Act B) the Accountant Reliability Act C) the Sarbanes-Oxley Act D) the 24th amendment to the Constitution
A resource is defined to be:
A. something that people respond to. B. anything that can be used to make something of value. C. a good or service. D. something of value.
Economic growth is:
A. an increase in our economy's potential output. B. represented by the long-run aggregate supply curve shifting to the right. C. a result of having more natural resources, land or capital. D. All of these are true.