Business inventories tend to fall after an unexpected increase in ...

[Jkov05]

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.

[l.stuut]

Answer to Question 1

True

Answer to Question 2

c

[Jkov05]

Thanks for the timely response, appreciate it

[daiying98]

Great answer, keep it coming