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Author Question: Business inventories tend to fall after an unexpected increase in aggregate demand. a. True b. ... (Read 34 times)

Jkov05

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on: Jun 30, 2018
Business inventories tend to fall after an unexpected increase in aggregate demand.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

If the short run elasticity of demand for widgets is 0.7 and the long run elasticity of demand for widgets is 1.5, a decrease in price will ____ total revenue in the short run and ____ total revenue in the long run.
 a. Increase; increase.
 b. Increase; decrease.
  c. Decrease; increase.
  d. Decrease; decrease.


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l.stuut

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Reply #1 on: Jun 30, 2018
Answer to Question 1

True

Answer to Question 2

c


Jkov05

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  • Posts: 556
Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

ghepp

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Reply 3 on: Yesterday
Excellent

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