Channeling funds to individuals with productive investment opportunities is the function of ________
A) the financial sector
B) state and local governments
C) the central bank
D) state, local and federal governments
A
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If demand is inelastic and the price falls, the total revenue
A) rises. B) falls. C) remains constant. D) might rise, fall, or remain constant. E) becomes negative.
Suppose a company expects prices in general to rise by 5%, but the price of its product rises by 2%. How will the company respond to the price change?
A) It will increase production since it's getting a higher price for the product. B) It will increase production more slowly since it's price is rising more slowly than average. C) It will reduce production since it perceives a relative decline in the demand for its product. D) It will stop production and shut down until prices rise more quickly.