The baby boom of the post–World War II period had the greatest impact on the size of the U.S. labor force in _____

If the short run elasticity of demand for widgets is 1.1 and the long run elasticity of demand for widgets is 3.6, an increase in price will ____ total revenue in the short run and ____ total revenue in the long run. a. Increase; increase

b. Increase; decrease. c. Decrease; increase. d. Decrease; decrease.

If the national debt is owned by domestic citizens,

A. the debt will not have to be repaid. B. future interest payments transfer funds from one group of Americans to another. C. the debt will have to be repaid first to domestic creditors, then to foreign creditors. D. future interest payments will go to pay foreign debt first, then debt owed to American citizens.