20. According to the Phillips curve, if current output is above potential output, then current unemployment rate : (A) is above the natural rate of unemployment and prices fall (B) is below the natural rate of unemployment and prices fall (C) is above the natural rate of unemployment and prices rise (D) is below the natural rate of unemployment and prices rise

1. When the local used bookstore prices economics books at $20.00 each, they generally sell 70 per month. If they lower the price to $8.00 each, they sell 90. Hence, the elasticity of demand for these economics books is (A) 3.43, so this store should lower price to raise total revenue. (B) 3.43, so this store should raise price to raise total revenue. (C) 0.29, so this store should lower price to raise total revenue. (D) 0.29, so this store should raise price to raise total revenue.

相關試題

相關試卷