Assuming that professional and college football are substitutes, an increase in the ticket price for professional football, other things being equal, will:
a. increase the demand for college football tickets.
b. decrease the demand for college football tickets.
c. not change the demand for college football tickets.
d. decrease the demand for professional football games.
a
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The textbook refers to the following quotation from a Federal Reserve publication:
"Trade is a win-win situation for all countries that participate." But many firms and workers oppose free-trade policies and protests against globalization have become a regular occurrence at meetings of the World Trade Organization. If trade is a "win-win" situation, why is there strong opposition to free trade and globalization?
Marginal revenue is the addition to total revenue resulting from the addition of one unit to total output
a. True b. False Indicate whether the statement is true or false
An example of a good that is excludable is:
A. a park. B. a river. C. a boat. D. clean air.
In an open economy, a reduction in government spending will cause
A) an increase in domestic output. B) an increase in imports. C) an increase in net exports. D) all of the above E) none of the above