The quantity supplied of a good or service is the quantity that a producer ________ at a particular price during a given time period

Which would be easier to reverse? For Denmark, which now pegs its national currency to the euro, to choose monetary autonomy and abandon its peg, or for Italy to switch back from the euro to the lira?

A) Italy, because all it has to do is cash euros for lire B) Italy, because it can change over to an electronic payments system C) Denmark, because it would only have to return all the euros in its treasury D) Denmark, because it would not have to change its currency, accounting structure, nor reprint domestic currency

When a firm raises the price of its product, what happens to its total revenue?

A) If demand is elastic, total revenue decreases. B) If demand is unit elastic, total revenue increases. C) If demand is inelastic, total revenue decreases. D) If demand is elastic, total revenue increases. E) If demand is unit elastic, total revenue decreases.