Suppose that the Houston Rockets' management is considering a plan in which fans who donate blood can attend games for $35 instead of the usual $50. If both ticket revenues and blood donations rise with this plan, which of the following is true?
A. The demand for Houston Rockets' tickets is price inelastic.
B. The demand for Houston Rockets' tickets is price elastic.
C. The demand for blood donations is price elastic.
D. The demand for blood donations is price inelastic.
Answer: B
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Shortly after the 2012 election, the AMT was reformed to
A. reduce the tax liabilities of the taxpayers with the lowest taxable incomes. B. index its thresholds for inflation. C. reduce the tax liabilities of the taxpayers with the highest taxable incomes. D. remove inflation.
The ________ effect of a price change states that when the price of a good falls, that good becomes cheaper compared to other goods and services so consumers tend substitute that good for other goods
a. Substitution b. Demand c. Income d. Supply
Figure 10-6
In Figure 10-6, which graph best illustrates an autonomous increase in consumption spending?
a.
(1)
b.
(2)
c.
(3)
d.
(4)
Refer to the information provided in Table 22.3 below to answer the question(s) that follow. Table 22.3
Refer to Table 22.3. The labor-force participation rate is approximately
A. 12%. B. 56%. C. 80%. D. 95%.