A decrease in price will cause a firm's total revenue to decrease if demand is price inelastic

How does the Fed increase the level of reserves in the banking system?

A) by lowering interest rates B) by buying bonds C) by raising interest rates D) by selling bonds

According to your text, the economic way of thinking focuses on

A) actions, interactions, and consequences. B) intentions, motivations, and results. C) hypothesis generation, determination of control group, and testing of hypothesis. D) id, ego, and superego.