If demand for a seller's product is elastic, a price decrease will increase total revenue
a. True
b. False
Indicate whether the statement is true or false
True
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Between 2017 and 2018, the CPI of a small nation rose from 182 to 185. If household incomes rose by 3% during that period of time, which of the following is true?
A) The purchasing power of household income rose between 2017 and 2018. B) The purchasing power of household income fell between 2017 and 2018. C) The purchasing power of household income remained constant between 2017 and 2018. D) The CPI cannot be used to determine how the purchasing power of household income changes over time.
The curve most economists use to follow the relationship between the interest rates and bonds' time to maturity is the:
A. demand of money curve. B. yield curve. C. effective supply of money curve. D. aggregate demand curve.