If demand is elastic, an increase in price will increase total revenue.
Answer the following statement true (T) or false (F)
False
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Firms in perfectly competitive industries are unable to control the prices of te products they sell and are unable to earn a profit in the long run. Which of the following is one reason for this?
__________ are issued with an original maturity of between one and ten years
A) Treasury bills B) Treasury notes C) Treasury bonds D) None of the above.
When an economy experiences significant economic growth:
a. a negative relationship exists between output per capita and adult literacy rates. b. an indirect relationship exists between output per capita and adult literacy rates. c. a direct relationship exists between output per capita and adult literacy rates d. no observed relationship exists between output per capita and adult literacy rates.
If the United States has a trade deficit, this means that
A. Trade activity is limited to just a few goods. B. The trade balance is negative. C. Exports exceed imports. D. The U.S. economy produces more than it consumes.