The supply curve for space on a freeway is perfectly vertical at any given point in time
Indicate whether the statement is true or false
True
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When real rates of interest are negative, borrowers:
A. benefit, because the value of their debt declines. B. suffer, because the value of their debt declines. C. benefit, because the value of their debt increases. D. suffer, because the value of their debt increases.
Supply and demand analysis suggests that a sharp increase in the price of gasoline will cause the
a. price of fuel-efficient compact cars to decrease. b. supply of gasoline to decrease. c. demand for large luxury cars to increase. d. demand for fuel-efficient cars to increase.
With respect to the dollar, a decrease in the number of dollars needed to purchase one unit of foreign exchange in a flexible exchange system is called currency appreciation
Indicate whether the statement is true or false
Your classmates from the University of Chicago are planning to go to Miami for spring break, and you are undecided about whether you should go with them. The round-trip airfare is $600, but you have a frequent-flyer coupon worth $500 that you could use to pay part of the airfare. All other costs for the vacation are exactly $900. The most you would be willing to pay for the trip is $1,400. Your only alternative use for your frequent-flyer coupon is for your trip to Atlanta two weeks after the break to attend your sister's graduation, which your parents are forcing you to attend. The Chicago-Atlanta round-trip airfare is $450. What is the opportunity cost of using the coupon for the Miami trip?
A. $450 B. $100 C. $500 D. $550