During the Winter Olympics in Vancouver, some residents rented rooms to visitors. This behavior
A) helped reduce the shortage of hotel rooms caused by the high demand during the Olympics.
B) reduced the demand for tickets to the Olympics since many local residents left town while they rented out space in their homes.
C) hurt the hotel market in Vancouver in the long run because new hotels that should have been built were not built for the Olympics.
D) raised the demand for hotel rooms in Vancouver and should have been prevented by the city of Vancouver.
A
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Refer to the figure above. In free trade A will import
A) 700 units from country C. B) 700 units from C and 600 units from B. C) 600 units from C. D) 600 units from C and 400 units from B.
Big Woods is a lumber firm that sells plywood sheets to local builders. If the annual holding cost of a sheet of plywood is $15 and the managers of Big Woods order 500 sheets of plywood, what is the total annual carrying costs of the inventory?
A) $8,500 B) $3,750 C) $7,500 D) $3,000
Prospect theory was proposed by:
A. John Nash. B. Milton Friedman and George Stigler. C. Amos Tversky and Daniel Kahneman. D. Gary Becker.
Insufficient capital formation can limit a poor nation's economic growth.
Answer the following statement true (T) or false (F)