By reviewing its sales records, Dell economists discover that when Dell lowers the price of its personal computers, the total revenue Dell obtains from the sale of its personal computers rises. Hence
A) supply of Dell personal computers is elastic.
B) demand for Dell personal computers is elastic.
C) supply of Dell personal computers is inelastic.
D) demand for Dell personal computers is inelastic.
B
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Because it takes time for workers to search for a job and for firms to search for new employees, there will always be some workers who are
A) frictionally unemployed. B) structurally unemployed. C) cyclically unemployed. D) seasonally unemployed.
Suppose the U.S. and Japan both produce airplanes and televisions and the U.S. has a comparative advantage in the production of airplanes while Japan has a comparative advantage in the production of televisions. If the U.S. exports airplanes to Japan and imports televisions from Japan,
a. both countries, as a whole, will be better off. b. all individuals in both countries will be better off. c. both countries, as a whole, will be worse off. d. all individuals in both countries will be worse off.
Which of the following would cause a positive change in quantity demanded?
a. A rise in supply. b. A fall in supply. c. A rise in demand. d. A fall in demand.
Corporations often raise funds for business activities by the sale of shares of existing common stock.
Answer the following statement true (T) or false (F)