The "voluntary bumping plan" used by airlines to resolve the problem of overbooked flights was developed by economist
A) Adam Smith.
B) John Maynard Keynes.
C) Alan Greenspan.
D) Julian Simon.
D
Economics
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Perfectly elastic demand is represented by a demand curve that
A) is vertical. B) is horizontal. C) has a 45° slope. D) is a rectangular hyperbola.
Economics
The MC of a firm:
A. crosses TC at its minimum. B. crosses AVC and ATC at its minimum. C. crosses MR at the above the profit-maximizing level of output. D. is a horizontal line indicating that costs are constant in perfect competition.
Economics
In a centrally planned economic system, who decides what and how much will be produced?
A. Consumers B. Privately owned businesses C. The government D. The people, by referendum every five years
Economics
when the Fed sells US gov securities to a bank the Fed
What will be an ideal response?
Economics