Which economist first identified an inverse relationship between rates of inflation and rates of unemployment?

Does the decision to make a blockbuster movie mean that some other more desirable activities get fewer resources than they deserve? Is your answer positive or normative? Explain your answer

What will be an ideal response?

If the elasticity of demand for bagels is equal to 1, moving along the demand curve for bagels, an increase in price will: a. not affect the quantity purchased

b. decrease the quantity demanded and increase total revenue. c. decrease the quantity demanded and decrease total revenue. d. decrease the quantity demanded and leave total revenue unchanged.