If Education R Us University thought that it faced an inelastic demand for the regular academic year but an elastic demand for summer school, and it wanted to increase its total tuition revenue, it would want to____ tuition in the regular academic year and ____ tuition for summer school
a. Increase; increase

The aggregate supply curve is

a. a schedule showing the relationship between the price level and the quantity of real GDP supplied. b. usually upward sloping. c. relatively flat at low levels of resource utilization. d. All of the above are correct.

Which of the following statements about GDP is true?

a. The value of GDP per capita of an economy does not reflect the equality of distribution of income among the population in the economy. b. The value of GDP per capita of an economy reflects the equality of distribution of income among the population in the economy. c. A high level of GDP in an economy states that the standard of living of the people in the economy is also high. d. As GDP per capita rises, the gap between the incomes of the top 5 percent of the population and the bottom 5 percent necessarily decreases.