Demand shows
a. the various quantities people are willing and able to buy at various prices, ceteris paribus.
b. the various quantities people are able and willing to buy at various prices.
c. the various prices people face when buying.
d. how much people buy at one specific price.
a. the various quantities people are willing and able to buy at various prices, ceteris paribus.
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When airlines overbook a flight and passengers are paid to take a later flight, which category of passenger is most likely to give up their reservations?
A) Passengers not in a hurry B) Poor passengers C) Selfish passengers D) Unselfish passengers E) Wealthy passengers
According to the Taylor rule, which of the following will lead to the largest increase in the nominal federal funds rate?
A) a two percentage point increase in the target inflation rate B) a one percentage point decrease in the target inflation rate C) a one percentage point increase in output D) a two percentage point decrease in output E) a one percentage point increase in the inflation rate
Temporary or permanent workers hired to replace striking union workers are known as
A) strikebreakers. B) backbreakers. C) rationers. D) strikeaiders.
After purchasing a coffee cup from your local gas station for $5.00, you can always refill your cup for $0.50. The marginal cost of your 10th cup of coffee purchased at the gas station is:
A. $0.50. B. $5.00. C. $10.00. D. $5.50.