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
True
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If the price of bonds is set ________ the equilibrium price, the quantity of bonds demanded exceeds the quantity of bonds supplied, a condition called excess ________
A) above; demand B) above; supply C) below; demand D) below; supply
Use the above table. If the level of production was determined by the market, it would be
A) 4. B) 5. C) 6. D) 7.
Interest rates are positive because
A) people prefer future consumption over current consumption. B) people prefer current consumption over future consumption. C) usury laws require rates to be very high. D) banks are not competitive.
The percentage of the population classified as poor in 2010 was approximately
a. 7 percent. b. 15 percent. c. 21 percent. d. 25 percent.