A bumper crop would be bad news for farmers if their crop has an inelastic demand because their total revenue would:
A. rise along with price.
B. rise as price falls.
C. fall as price rises.
D. fall along with price.
Answer: D
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When two variables in a graph are related to a third, changing the third causes
A) a movement along the curve. B) a shift of the curve. C) no change in the curve because the third variable isn't on the axes. D) either a shift or a movement in the curve, but more information is needed to determine which occurs. E) None of the above answers is correct.
What impact does a higher price level have on interest rates, wealth, and investment spending?
What will be an ideal response?
The way in which growth occurs affects the pattern of trade of a country
Indicate whether the statement is true or false
Ceteris paribus means "other things constant."
a. True b. False