Total revenue will decrease when
A. the price elasticity of demand equals 1.20 and price rises.
B. price and quantity change in opposite directions.
C. the price elasticity of demand is negative.
D. the price elasticity of demand equals 1.00 and price falls.
Answer: A. the price elasticity of demand equals 1.20 and price rises.
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The natural rate hypothesis states that
A) it is natural for the unemployment rate to be less than the natural unemployment rate. B) changes in the inflation rate temporarily change the natural unemployment rate. C) it is natural for the unemployment rate to exceed the inflation rate. D) only natural economic policies can bring a permanent reduction in the unemployment rate. E) changes in the inflation rate temporarily change the unemployment rate.
What are liability rules?
What will be an ideal response?
What is meant by direct regulation of pollution emissions? What is the problem with this method of pollution control?
What will be an ideal response?
A market
A) always involves the personal exchange of goods for money. B) allows interactions between consumers and firms. C) always takes place at a physical location. D) has no influence on prices.