If demand is ________, a price cut ________ the total revenue
A) elastic; increases
B) unit elastic; decreases
C) inelastic; increases
D) inelastic; does not change
E) normal; decreases
A
Economics
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The Federal Reserve's response to the 2001 recession was to
A. raise the margin requirement and lower the reserve requirement. B. reduce the money supply by 7% in order to reduce overinflated stock prices. C. cut the federal funds rate over a three-year period. D. reduce the reserve requirement.
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