If the demand for a good is elastic, a decrease in its price will result in additional revenue because the increase in quantity more than offsets the decrease in price

During the early 1930s, the Fed was reluctant to rescue nonsolvent banks out of fear of encouraging:

A) moral hazard B) adverse selection C) bank run D) sovereign debt crisis

The field of political economy

a. applies the methods of political science to microeconomics. b. applies the methods of political science to macroeconomics. c. is relevant to the issue of how active government should be in economic matters. d. integrates psychological insights to better understand individual choices.