Price and total revenue are directly related when demand is
A. unit price elastic.
B. price elastic.
C. perfectly price elastic.
D. price inelastic.
Answer: D
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In the figure above, the richest 40 percent of households receive ________ of total income
A) 70 percent B) 30 percent C) 60 percent D) 80 percent
Refer to Table 26-4. Suppose the following table illustrates the values of real and potential GDP and the price level if the Fed does not vote to change their current policy to be more contractionary or expansionary
If the Fed wants to keep real GDP at its potential level in 2017, should the Fed use a contractionary or expansionary policy? How should it conduct open market operations to achieve its goal?
Rational production decisions require an understanding of
a. trade-offs.
b. opportunity costs.
c. scarcity of resources.
d. All of the above are correct.
Considering a put option; if the price of the underlying asset increases:
A. the value of the put option also increases. B. the time value of the option decreases. C. the intrinsic value of the option increases. D. the value of the option decreases.