The basic reason that your college's women's basketball tickets are rarely, if ever, scalped is because
A. no one would ever pay more than the face value for such a ticket.
B. women's basketball is exempt from the laws of supply and demand.
C. brokers/scalpers just have not yet hit your city.
D. sellouts are required for scalping to work, and these games rarely sell out.
Answer: D
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When there is an expansionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; expand B. increase; raise; decline C. decline; lower; decline D. decline; raise; decline
A payday loan company has decided to open several new locations in the city. To decide where to open these locations it hires consultants and must decide how to pay them. To align incentives, it should to pay the consultants
a. Per store opened b. A percentage of the profit earned per new store c. A fixed contract amount d. All of the above
Which of the following statement(s) best describes trade-offs?
a. The trade-offs in many production possibilities frontiers are represented by a straight line because the law of diminishing returns holds that as resources are added to an area, the marginal gains tend to diminish. b. The trade-offs in many production possibilities frontiers are represented by a curved line because the law of diminishing returns holds that as resources are added to an area, the marginal gains tend to increase. c. The trade-offs in many production possibilities frontiers are represented by a straight line because the law of diminishing returns holds that as resources are added to an area, the marginal gains tend to increase. d. The trade-offs in many production possibilities frontiers are represented by a curved line because the law of diminishing returns holds that as resources are added to an area, the marginal gains tend to diminish.
If a country experiences capital flight, which of the following curves shift right?
a. only the demand for loanable funds. b. only the supply of dollars in the market for foreign-currency exchange. c. only the net capital outflow curve and the supply of dollars in the market for foreign currency exchange. d. the demand for loanable funds, the net capital outflow curve, and the supply of dollars in the market for foreign currency exchange.