Author Question: If an increase in prices increases total revenue for a product in the short run, in the long run, it ... (Read 62 times)

fasfsadfdsfa · **on:** Jun 30, 2018

If an increase in prices increases total revenue for a product in the short run, in the long run, it will:
a. Increase total revenue by more.
b. Increase total revenue by less.
c. Decrease total revenue.
d. Either b. or c. could result in the long run.

Question 2

Considering open market operations, which of the following observations is incorrect?
a. it can be implemented quickly and cheaply.
b. it can be done quietly without a lot of political debate
c. it is potentially the most powerful tool to control the supply of money.
d. it is the most important method now used to control the supply of money.