If demand is unit elastic and price is __________, total revenue will _________.
A. raised; increase
B. raised; decrease
C. lowered; increase
D. lowered; remain unchanged
D. lowered; remain unchanged
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If the government drafts people into the armed forces rather than persuading them to volunteer
A) it conceals in part the cost to its citizens of obtaining military personnel. B) it employs a nondiscriminatory system because everyone drafted incurs the same cost and can be paid the same wage. C) it must pay higher wages since many people resent the draft. D) it reduces the cost to the nation as a whole of obtaining military personnel. E) it tends to obtain people with the lowest opportunity costs.
When the price level ________, the demand curve for money shifts to the ________ and the interest rate ________, everything else held constant
A) falls; right; rises B) rises; right; falls C) falls; left; rises D) rises; right; rises
The main difference between a repo and federal funds transaction is that
A) the repo transaction uses the securities for collateral while the federal funds transaction does not have collateral. B) the federal funds transaction uses securities for collateral while the repo transaction does not have collateral. C) the repo transaction has an agreed upon interest rate while the federal funds transaction has a spread between the sale and purchase price of securities. D) the federal funds transaction is normally overnight while the typical repo agreement is for 90 to 180 days.
The accounting-based performance analysis:
A. provides inexpensive information on opportunity costs. B. provides aggregate level data that is insufficient for decision making. C. is completely under the control of the operating managers. D. is a true reflector of a particular management center's functioning.