Refer to Figure 12.4. The implementation of corrective policy by the central bank is designed to move the economy from

If a good has a price elasticity of demand coefficient greater than 1, total revenue can be increased by raising the price

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

The opportunity cost of going to college full time away from home includes

A. the time you could have spent with parents back home. B. the funds you would have saved if you had not paid the tuition. C. the income you could have earned from a full-time job. D. All of these are correct.