Holding all other factors constant, which of the following would shift the demand curve for air travel to the left?
(a) An increase in fuel costs.
(b) Greater number of terrorist attacks on airplanes.
(c) Increased price of ferry tickets.
(d) Both (a) and (c).
Answer: (b) Greater number of terrorist attacks on airplanes.
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How is total revenue calculated? If a firm sells 350 units of a product at a price of $8 each, what is the firm's total revenue?
What will be an ideal response?
Government policies which reduce the price of education increase ________ in the AK growth models or increase ________ in the production function for new ideas in the two-sector growth model
A) the capital stock; the productivity of researchers B) the efficiency index; the size of the labor force C) the proportion of the labor force devoted to research; the capital stock D) the productivity of researchers; the size of the labor force
Which of the following was not used to subsidize railroad companies and their building of railroads?
a. Loans from the U.S. government b. Reduced corporate income taxes c. Land grants d. Direct payments based on the number of miles of tracks laid
The branch of economics that focuses on decision making for the economy as a whole is called:
a. normative economics. b. macroeconomics. c. microeconomics. d. consumer economics.