In the figure above, what happens to total revenue as we move from point A to point B?
A) It increases.
B) It decreases.
C) It remains constant.
D) It becomes negative.
E) More information about the elasticity of demand is needed to determine if it increases, decreases, or does not change.
B
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If Sam does not have a job and is NOT currently looking for work but has looked in the past, he is considered
A) unemployed. B) not in the labor force. C) unemployed and in the labor force. D) unemployed and not in the labor force.
The short-run aggregate supply curve is vertical when inflation is predicted accurately.
Answer the following statement true (T) or false (F)
Given the following table, how many workers should be hired to maximize profits?LaborMarginal Product LaborVMPLWage18$32$100232$128$100316$64$1004-1$-4$1005-12$-48$100
A. 1 B. 2 C. 3 D. 4
When a country exports more than it imports, the country has ________.
A. an increase in aggregate supply B. a trade deficit C. a decrease in aggregate demand D. a trade surplus