The Fed and the government are working against each other if, as the government cuts taxes to promote economic growth, the Fed

If the price elasticity of demand is greater than 1, a monopoly's

A) total revenue increases when the firm lowers its price. B) total revenue decreases when the firm lowers its price. C) marginal revenue is negative. D) marginal revenue is zero.

How does an increase in a country's exchange rate affect its balance of trade?

A) An increase in the exchange rate raises imports, reduces exports, and reduces the balance of trade. B) An increase in the exchange rate reduces imports, raises exports, and increases the balance of trade. C) An increase in the exchange rate raises imports, reduces exports, and increases the balance of trade. D) An increase in the exchange rate reduces imports, raises exports, and reduces the balance of trade.