About ___________ of the U.S. population moves each year
a. 5%
b. 10%
c. 15%
d. 35%
C
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Certain hotels offer promotional strategies in which kids under 12 eat free at the hotel's restaurant. This is an example of second-degree price discrimination
Indicate whether the statement is true or false
Social Security transfers wealth from younger generations to older generations
a. True b. False Indicate whether the statement is true or false
U.S. U.K Wheat 12 6 Cloth 6 18 The table above shows United States and United Kingdom production of wheat (bushels per hour) and cloth (yards per hour). In order for both countries to gain from trade, one bushel of wheat must trade for
A) between 6 and 18 yards of cloth. B) between 1/2 and 2 yards of cloth. C) between 1/3 and 3 yards of cloth. D) between 1/2 and 1/3 yards of cloth.
The budget constraint shows that
A) the consumer faces a trade-off in the consumption of goods. B) the consumer can have as many goods as he wants. C) as consumers spend more on one good, they spend more on others. D) total income equals total spending on one good.