The price-elasticity coefficients are 2.6, 0.5, 1.4, and 0.18 for four different demand schedules,D1, D2, D3, and D4, respectively. A 2-percent increase in price will result in an increase in total revenues in which of the following cases?
What will be an ideal response?
D2 and D4
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
When the wage increases, the income effect on the household's choices leads to
A) a decrease in consumption and leisure. B) a decrease in consumption and an increase in leisure. C) an increase in consumption and a decrease in leisure. D) an increase in consumption and leisure.
International trade in the U.S. during the antebellum period
(a) benefited the Northern economy more than the Southern economy. (b) benefited England significantly more than the U.S. (c) played an important part in the growth and expansion of the Southern economy. (d) occurred as described in all of the above.
Suppose Derek earns an annual income of $96,000 . If the rate of growth of his income remains constant at 15 percent, he is most likely to earn _____ per year after 2 years
a. $178,987 b. $145,700 c. $10,000 d. $126,960