As an apparent result of airline deregulation,
a. many small communities have been left without airline service.
b. the wages and benefits of airline workers have been reduced.
c. air fares have risen more quickly than they probably would have under continued regulation.
d. small commuter airlines have almost vanished.
b
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Expenditure changes may be potentially inequitable, as are tax changes, because
A) their spatial distribution must be determined by the legislature. B) their spatial distribution must be determined by the Fed. C) the government is slow to implement new programs. D) unlike Japan, public works projects are the province of the executive branch.
Which of the following describes a situation in which demand must be elastic?
a. The price of dish soap rises by 10 cents, and quantity of dish soap demanded falls by 50. b. The price of dish soap rises by 10 cents, and total revenue rises. c. A 20 percent increase in the price of dish soap leads to a 20 percent decrease in the quantity of dish soap demanded. d. Total revenue does not change when the price of dish soap rises. e. Total revenue decreases when the price of dish soap rises.
Refer to Scenario 9.1. If Monty places ________ sheep on the commons, Sheb is better off placing ________ on the commons
A) 4; 4 B) 5; 4 C) 5; 5 D) Both A and B are correct.
Dell Computers decides to produce PCs and sell them directly over the Internet and via Best Buy. This is an example of
A) incentives. B) a microeconomic decision. C) a macroeconomic decision. D) scarcity.