Due to the fact that Curly used his frequent flyer miles to fly to visit Moe, Curly told Moe that it didn't cost him anything to visit. Is Curly correct?
A. Yes, because Curly could stay at Moe's house for free.
B. No, because Curly had to pay for earlier trips in order to earn the frequent flyer miles.
C. No, because Curly could have used his frequent flyer miles to go somewhere else instead.
D. Yes, because Curly's frequent flyer miles made the trip free.
Answer: C
You might also like to view...
Access to the movie "Casablanca," showing in a half-empty theater, is
A) a public good because individuals watch movies together. B) a public good only if the theater is run by the government. C) not a public good because it is a rival good. D) not a public good because it is an exclusive good. E) not a public good because it is both a rival good and an exclusive good.
Which of the following is true about oligopoly?
A) There are few buyers B) There is no ability to set price C) There are many sellers D) none of the above
When poverty is defined by an relative real income level, what will happen to the poverty rate if the distribution of income is NOT perfectly equal?
A. The poverty rate will increase forever. B. The poverty rate will change, but always exist. C. The poverty rate will eventually be zero. D. The poverty rate will always remain constant.
Refer to the information provided in Figure 3.18 below to answer the question(s) that follow.
Figure 3.18Refer to Figure 3.18. The market is initially in equilibrium at Point B. If demand shifts from D2 to D1, the new equilibrium price will be ________ and the new equilibrium quantity will be ________.
A. $3.00; 250 B. $4.00; 350 C. $3.00; 400 D. $4.00; 150