From 1970 to the mid-1990s, the relative price of crude petroleum
A) steadily increased.
B) steadily decreased.
C) increased dramatically, then decreased dramatically.
D) decreased dramatically, then increased dramatically.
E) remained more or less the same.
C
Economics
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Refer to the figure above. What is the change in total revenue due to a price increase from $3 to $5?
A) The total revenue increases by $100. B) The total revenue decreases by $100. C) The total revenue increases by $200. D) The total revenue decreases by $200.
Economics
Refer to Figure 13-3. Suppose the economy is at point C. If investment spending decreases in the economy, where will the eventual long-run equilibrium be?
A) A B) B C) C D) D
Economics