If demand for Farmer John's maple syrup is inelastic, then when Farmer John raises the price of maple syrup, his total revenue will
A) increase.
B) decrease.
C) stay the same.
D) probably change, but more information is needed to determine if the total revenue increases, decreases, or stays the same.
A
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If real interest rates in the US are increasing faster than real interest rates in other countries, which of the following is most likely to occur?
a. the demand for dollars will decrease, and the value of the dollar will increase b. the demand for dollars will increase, and the value of the dollar will increase c. the supply of dollars will decrease, and the value of the dollar will increase d. the supply of dollars will increase, and the value of the dollar will increase e. the supply of dollars will increase, and the value of the dollar will decrease
The trade-to-GDP ratio is calculated by
A) exports divided by GDP. B) imports divided by GDP. C) exports plus imports divided by GDP. D) exports minus imports divided by GDP.