Since World War II, there have been ________ but ________ in the U.S. economy
a. no recessions; five depressions
b. three depressions; no recessions
c. recessions; no depressions
d. depressions; no recessions
c
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Refer to Table 6-5. Katie Graham owns a kayak rental service in Santa Barbara. Table 6.5 shows her estimated demand schedule for kayak rentals per week. She would like to increase her sales revenue by changing the price she charges for rentals
At present she charges $75. Based on the information in the table, Katie A) should raise her price to $80 to increase her revenue because the demand for kayak rentals is price inelastic. B) should raise her price to earn the most revenue. C) should lower her price to $60 to increase her revenue because the demand for kayak rentals is price elastic. D) is not able to increase her revenue by changing her price because the demand for kayak rentals is unit elastic.
A market's equilibrium is the point at which the supply and demand curves intersect
a. True b. False Indicate whether the statement is true or false