When the percentage change in price is greater than the resulting percentage change in quantity demanded:
A. a decrease in price will increase total revenue.
B. demand may be either elastic or inelastic.
C. an increase in price will increase total revenue.
D. demand is elastic.
Answer: C
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The organization that unionized workers along industrial rather than craft lines was the
a. Chamber of Commerce b. American Federation of Labor c. National Labor Relations Board d. Journeymen Stonecutter's Association e. Congress of Industrial Organization
Firms share technology with rivals,
a. in order to better compete with their rivals. b. in order to help out when their rivals are in trouble. c. to share the substantial risks of innovation. d. because they are required to by law. e. in order to pass false information to their rivals in order to drive them out of business.
Some people argue that there are two advantages to holding mutual funds. The first is that mutual funds provide an inexpensive way to hold a diversified portfolio. The second is that because of their expertise mutual fund managers should be able to consistently beat the market. Which of the following does the evidence show?
a. Diversification does reduce risk and mutual funds typically outperform the market. b. Diversification does reduce risk, but mutual funds do not typically outperform the market. c. Diversification does not reduce risk but mutual funds typically outperform the market. d. Diversification does not reduce risk and mutual funds do not typically outperform the market.
The following can be analyzed using econometrics:
A. labor supply. B. market demand. C. tax-setting behavior. D. poverty. E. all of these answer options are correct.