The Federal Trade Commission was established in the 1930s under President Franklin D. Roosevelt
a. True
b. False
Indicate whether the statement is true or false
False
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The Rule of ________ can be used to calculate the number of years that it takes for the level of a variable to ________
A) 20; double B) 70; triple C) 70; double D) 20; triple E) thumb; double
If you and your business partner are trying to increase your total revenue, and you want a lower price than she does, it could be because you think the relevant demand curve is more elastic than your partner does
a. True b. False Indicate whether the statement is true or false
Since a monopolist faces a downward sloping demand curve,
a. the monopolist is able to sell all that it wants at whatever price the monopolist chooses. b. it is necessary for the monopolist to lower the price to sell additional units of the good. c. the monopolist sells only a fraction of the total sales of the good in the market d. the monopolist must always make an economic profit.
All of the following shift the consumption function upward EXCEPT
A. an expectation of better economic conditions. B. an increase in wealth. C. a decrease in the rate of interest. D. an increase in income.