Suppose the president of a textbook publisher argues that a 10 percent increase in the price of textbooks will raise total revenue for the publisher. It can be concluded that the company president thinks that demand for textbooks is:

A liquidity trap exists when a change in the money supply immediately and drastically affects interest rates.

a. true b. false

Being on the PPF implies that increasing the production of one good or service can only be accomplished by decreasing the quantity produced of another good or service

a. True b. False Indicate whether the statement is true or false