Because demand for air travel from people who are traveling on vacation is more ________, the airlines offer leisure travelers lower prices than business travelers.
A. large
B. elastic
C. inelastic
D. small
Answer: B
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The number of people who have gray hair is very high among residents living in Florida. A student concludes that living in Florida causes hair to turn gray. What is the flaw in this student's reasoning?
A) The student is drawing a false conclusion by making the mistake of omitting critical variables such as the age and gender of the residents. B) The student has failed to take into account other causes of gray hair. C) The student is using an inadequate sample size. D) The student is drawing a false conclusion; he is confusing cause and effect.
Refer to the information provided in Table 24.7 below to answer the question(s) that follow.
Table 24.7All Numbers are in $ Million
Refer to Table 24.7. The government spending multiplier in this economy is
A. 2. B. 4. C. 5. D. 10.
In 2012, consumers in Dexter consumed only books and pens. The prices and quantities for 2012 and 2013 are listed in the table above. The reference base period for Dexter's CPI is 2012. What is the cost of the CPI basket in 2012?
A) $430 B) $335 C) $320 D) $540
Keynesians believe that to help ensure full employment production, we should use
A) both counter-cyclical monetary and fiscal policy. B) a money supply rule and counter-cyclical fiscal policy. C) counter-cyclical fiscal policy only. D) counter-cyclical monetary policy only.