When demand is inelastic, a decrease in price increases total revenue
a. True
b. False
Indicate whether the statement is true or false
False
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List and briefly describe the four major types of transactions costs involved when dealing with a negative externality
What will be an ideal response?
The provision of the Patient Protection and Affordable Care Act (ACA) which states that every firm with more than 200 full-time employees must offer health insurance to its employees and must automatically enroll them in the plan is the ________
provision. A) individual mandate B) regulation of health insurance C) state health insurance marketplaces D) employer mandate
Okun's law relates ________ to ________
A) inflation; unemployment B) inflation; output C) output; unemployment D) output; employment
The nation of Futura has an actual capital-labor ratio which is in steady state. Futura will experience
A) no growth from convergence and the economy will remain on its balanced growth path. B) positive growth from convergence to keep the economy on its balanced growth path. C) positive growth from convergence, but the growth will be less than the balanced growth rate in order to remain on its balanced growth path. D) negative growth from convergence to offset the increase in the balanced growth rate in order to remain on its balanced growth path.