1. When the demand curve is relatively inelastic and the price falls, what happens to total revenue?
When the demand curve is relatively inelastic and the price falls, the total revenue decreases.
2. Why is the demand for gasoline relatively inelastic, wh
July 23, 2015
The Pros and Cons of a Minimum Wage
The federal government has imposed a minimum wage since 1938, and nearly all
the states impose their own minimum wages. These laws prevent employers from paying
wages below a mandate
1. Which are contractionary fiscal policies?
A. Increased taxation and increased government spending
B. Increased taxation and decreased government spending
C. Decreased taxation and no change in government spending
D. No change in t