Allegiant Air holds a natural monopoly on most of the routes it serves in the United States. Allegiant Air ________ operate on the ________ portion of its demand curve when total revenue is ________
A) will always; elastic; increasing
B) will usually; elastic; decreasing
C) will never; elastic; increasing
D) will always; inelastic; increasing
E) will never; inelastic; increasing
A
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The opportunity costs of land is largely determined by
A) need. B) real estate agents. C) demand. D) government.
In the long run, one-time increases or decreases in the nominal money supply affect
A) real output, but not the price level. B) the price level, but not real output. C) both real output and the price level. D) neither real output nor the price level.
Which of the following is a major pitfall to avoid when purchasing a home?
A) making a large down payment B) use of a fixed rate mortgage to cover 80 percent of the purchase price C) making a small down payment, for example 5 percent or less D) economical purchase of a home that has gone through the foreclosure process
The principle of subsidiarity states that
A) individual countries do not have to give up individual sovereignty for the good of the union. B) the union only has the authority to deal with issues best handled by international action. C) the union is the ultimate arbiter of all European issues. D) the union has no authority within countries.