Total revenue increases if price ________ and demand is ________.
A. falls; elastic
B. falls; inelastic
C. rises; unit elastic
D. rises; elastic
Answer: A
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In the United States, corporate profits are taxed
A) at both the corporate level and when investors receive dividends. B) only when investors receive dividends. C) only at the corporate level. D) neither at the corporate level nor when investors receive dividends.
The budget deficit/surplus projections for 2005 that were made in 2001 were wrong, because there was an
A. anticipated increase in immigration. B. anticipated increase in defense spending. C. unanticipated increase in interest rates. D. unanticipated increase in war-related spending.
The above figures show the market for HD televisions. If people's incomes increase and HD televisions are a normal good, which figure shows the effect of this change?
A) Figure A B) Figure B C) Figure C D) Figure D E) None of the figures represent this change.
In neoclassical growth theory, technological change ________
A) occurs by chance B) is influenced by population growth C) is influenced by the rate of economic growth D) occurs at a steady rate