Francis is hoping to buy a ticket to a sold-out concert. He finds online dealers offering tickets for a price more than double the original purchase price. This tells him that ______.
a. Demand has driven up the price.
b. The supply of tickets has increased.
c. The venue is larger than he thought.
d. He can get the tickets elsewhere at a discount.
a. Demand has driven up the price.
You might also like to view...
The decision to smoke cigarettes is subject to present bias because there is a temporal mismatch between ________ and ________.
A. the present benefit; the present cost B. the present benefit; the future cost C. the future benefit; the present cost D. the future benefit; the future cost
If aggregate demand decreases, and as a result, real output and employment decline but the price level remains unchanged, it is most likely that:
A. the money supply has declined. B. the price level is inflexible downward and a recession has occurred. C. cost-push inflation has occurred. D. productivity has declined.
What would happen to the value of the dollar if prices in the U.S. increased more rapidly relative to prices in other countries?
What will be an ideal response?
Ceteris paribus, if Americans decide they want to drive more German-made cars, this causes the ________ German currency to ________.
A. supply of; increase B. supply of; decrease C. demand for; decrease D. demand for; increase