Along a segment of the demand curve where the price elasticity of demand is less than 1, a decrease in price:
a. decreases quantity demanded.
b. will increase total revenue.
c. will decrease total revenue.
d. is impossible.
c
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Income taxes were made constitutional in the United States by the ________
A) Recovery Act of 2009 B) 16th Amendment to the U.S. Constitution C) Sherman Anti-Trust Act of 1890 D) Gramm-Leach-Bliley Act of 1999
A reduction in the level of unemployment would have which effect with respect to the nation's production possibilities curve?
A. It would shift the curve to the left. B. It would shift the curve to the right. C. It would not shift the curve; it would be represented by moving from a point inside the curve toward the curve. D. It would not shift the curve; it would be represented by moving from a point on the curve to a point outside the curve.