If, as price increases by 10 percent, total revenue decreases by 10 percent demand is
a. elastic.
b. unit elastic.
c. inelastic.
d. perfectly inelastic.
a
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"Beaten paths" in the context of labor migration are:
A. Routes taken previously by family, relatives, and friends B. Routes that have been "over used" by previous immigrants C. Routes that are no longer followed by immigrants D. Typical methods used to increase human capital
Pick the true statement
A) It is possible for economic profit to be greater than accounting profit. B) Accounting profit includes both the implicit and explicit costs of production. C) Accounting profit is always greater than economic profit. D) None of the above is a true statement.
The interest rate that banks charge each other for short-term loans is the
a. discount rate b. prime rate c. treasury rate d. federal funds rate e. interbank rate
Business owners who care only about maximizing profits are
a. likely to discriminate against certain groups of workers. b. likely to be replaced by discriminating businesses. c. more concerned about racial discrimination than gender discrimination. d. at an advantage when competing against those who practice employment discrimination.