When a 2 percent increase in the price of automobiles generates a greater than 2 percent decrease in quantity demanded, then
a. price elasticity of demand for automobiles is less than one
b. total revenue increases
c. demand is price inelastic
d. demand is unit elastic
e. total revenue decreases
E
Economics
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A major U.S. motive for negotiating a free-trade agreement with Mexico was to
a. help foster the study of the Spanish language as a means to trading with all Spanish-speaking countries b. increase immigration into the United States c. gain increased access to Mexican consumers d. keep Mexico from going Communist e. achieve, ultimately, political union with Mexico
Economics
Since 1950, there has been ____ in the labor force participation rate
a. no change b. an increase c. a decrease d. first an increase and then a significant decrease
Economics