When the price elasticity of demand is small in magnitude, a _____ increase in the price leads to a _____ reduction in the amount purchased and the demand curve is relatively ____.
A. slight; substantial; steep
B. slight; slight; flat
C. large; slight; steep
D. slight; substantial; flat
C. large; slight; steep
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Toyota purchases a truck factory in San Antonio, Texas. This purchase is entered into which of the balance of payment accounts?
A) capital and financial account B) current account C) foreign account D) official settlements account E) trade account
Which of the following statements is the MOST accurate? In general, under the monetary approach to the exchange rate
A) the interest rate is not independent of the money supply growth rate in the short run. B) the interest rate is independent of the money supply growth rate in the long run. C) the interest rate is not independent of the money supply growth rate in the long run, but independent in the short run. D) the interest rate is not independent of the money supply growth rate in the long run. E) the interest rate is a factor of the money supply growth rate only in the short term.
A franchisee faces_____ risk than a salaried manager
a. More b. Less c. The same d. None of the above
According to the Laffer curve,
a. an increase in tax rates will always cause tax revenues to increase. b. when marginal tax rates are high, an increase in tax rates is likely to cause tax revenues to increase. c. when marginal taxes are low, an increase in tax rates will probably cause tax revenues to decline. d. when marginal tax rates are high, a reduction in tax rates may increase tax revenue.