In economics, investment refers to the process of accumulating:
A. capital goods.
B. consumer goods.
C. money.
D. stocks and bonds.
Answer: A
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Suppose the economy in the diagram below is in long-run equilibrium. If government spending decreases and causes a movement from point A to point B in the diagram below, what are the short-run effects? Explain fully
What will be an ideal response?
If Microsoft wanted to prove to the Justice Department that its Windows software has many substitutes that personal computer owners can use, Microsoft hopes to find
A) that the demand for Windows is inelastic. B) that the demand for Windows is elastic. C) a large positive value for the cross elasticity of Windows and other software. D) a negative income elasticity for Windows. E) a positive income elasticity for Windows.
In many cities, the price of summer pops concerts has risen. In Charlotte, North Carolina, and Columbus, Ohio, for example, concerts that were once free now cost $5. If there are only fixed costs and no variable costs nor marginal costs in an orchestra concert, what is the efficient price? Explain the reason why some people will find the efficient price unfair.
What will be an ideal response?
If an airline chooses to practice price discrimination to increase profit, it will:
a. charge higher fares to those with a more elastic demand. b. charge higher fares to those with a less elastic demand. c. determine a fare for each passenger according to the costs of serving the passenger. d. charge everyone the same fare.