Given a price elasticity of demand of -0.33, a decrease in price will
A) reduce total revenue.
B) increase total revenue.
C) leave total revenue unchanged.
D) decrease quantity.
A
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Refer to Figure 7-1. Under autarky, the consumer surplus is area
A) S + V. B) S. C) R. D) R + S + V.
The main determinants of investment are the interest rates and expected profit
a. True b. False Indicate whether the statement is true or false
Figure36-9
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In Figure 36-9, the C + I + G + (X? IM)1 line is flatter than the C + I + G + (X? IM)0 line because the
A. (X? IM)1 line indicates that net exports decline as GDP rises. B. (X? IM)1 line indicates that net exports rise as GDP rises. C. multiplier is greater for the (X? IM)1 line. D. (X? IM)1 line indicates that tariffs, quotas, and other trade barriers are keeping net exports below their full potential.
In general, the larger the membership of a union the:
A. less power it has to keep wages above equilibrium. B. more likely the distribution of power within the organization will make it less effective. C. greater the chance that it abuses its power. D. more power it has to keep wages above equilibrium.