Total revenue increases if the price of the good
A) rises and demand is elastic.
B) rises and demand is inelastic.
C) rises and demand is unit elastic.
D) falls and supply is inelastic.
E) falls and demand is unit elastic.
B
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In the short run, there are large and persistent deviations between actual exchange rates and exchange rates predicted using purchasing power parity because of:
a. Discretionary monetary policy. b. International capital flows could cause short-term differences. c. Discretionary fiscal policy. d. Widely different inflation rates in the two nations. e. None of the above.
Refer to the given figure and assumptions. How many illegal immigrant workers will be hired at equilibrium?
(1) Employers in this market are willing and able to ignore minimum wage laws;
(2) S d represents the supply of domestic-born (and legal immigrant) workers; (3) S t represents
the total supply of workers in this labor market (S d plus illegal immigrants); and (4) unless
otherwise stated, illegal immigration is not effectively blocked by the government.
A. 200,000.
B. 250,000.
C. 350,000.
D. 450,000.