Tickets to a sporting event go on sale and sell out almost instantly. This suggests that
A. There is a surplus of tickets.
B. The tickets must be very expensive.
C. There are too many tickets to the event.
D. The price for the tickets is below the equilibrium price.
Answer: D
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A car owner who has agreed to sell his old car to a buyer at a contracted price will be unable to accept the price offered by other prospective buyers due to the _____ constraint
a. financial b. informational c. societal d. contractual
The real interest rate is:
A. the everyday notion of the interest rate. B. adjusted for inflation. C. the amount of interest the bank pays you for saving or charges you for borrowing. D. the actual average interest rate in the economy.
A focus of antitrust activities is
A) entry blocking. B) price fixing. C) the buying of patents. D) rent-seeking by lobbyists.
The marginal propensity to consume is difficult to estimate because
a) it depends on expectations of future income b) it depends on perceptions regarding the permanence of changes in income c) it depends on credit and borrowing constraints d) it declines as uncertainty increases e) all of the above