In which instances will total revenues decline?
A. Price rises and Ed equals .41
B. Price rises and demand is of unit elasticity
C. Price falls and demand is elastic
D. Price rises and Ed equals 2.47
D. Price rises and Ed equals 2.47
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In an Israeli factory, each worker can produce 2/5 of a shirt in an hour or 1/10 of a pair of pants in an hour. If there are 500 workers in the factory, what is opportunity cost of producing one pair of pants?
a. 1 shirt b. 4 shirts c. 1/2 shirt d. 1/4 shirt e. 2 shirts
Disclosure laws:
A. are an example of how government attempts to screen unethical businesses out of the marketplace. B. are an example of how government forces businesses to signal to consumers if they are credible. C. are a way businesses can build their reputation. D. are an example of how government attempts to solve information asymmetry in markets.
One result of asymmetric information about people's ability to repay a loan is that:
A. loans will only be made to people who don't pay them back. B. a bank could make many loans to people who don't pay them back. C. lenders are better off than with perfect information. D. banks will not make loans.
If the deficit is 0.08 times GDP, the existing debt-GDP ratio is 0.8, and the growth rate of nominal GDP is 0.05, then the change in the debt-GDP ratio is
A. +0.08. B. 0. C. -0.08. D. +0.04.