A decrease in total revenue will result if
A) demand is inelastic and price increases.
B) demand is elastic and price decreases.
C) demand is inelastic and price decreases.
D) demand is unitary elastic and price decreases.
Answer: C
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Which statement is an example of complementary goods affecting demand?
a. When diets that limited bread became popular, sales of jelly dropped. b. When studies showed that fish contained toxins, sales of chicken rose. c. As the U.S. Hispanic population grew, sales of salsa increased. d. After a fashion model shared her diet secrets, yogurt sales went up.
The IS curve has a positive slope because a(n) __________ in the interest rate leads to a(n) __________ in desired investment and this leads to an increase in GDP
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease