When ranking movies by nominal box office receipts, what important fact is overlooked?
a. More people go to movies now than in the past.
b. There are no good substitutes for movies currently.
c. Prices, including those for movie tickets, have been rising over time.
d. Movies and DVD are complements.
c
You might also like to view...
You are planning to open a new Italian restaurant in your hometown where there are three other Italian restaurants
You plan to distinguish your restaurant from your competitors by offering northern Italian cuisine and using locally grown organic produce. What is likely to happen in the restaurant market in your hometown after you open? A) Your competitors are likely to change their menus to make their products more similar to yours. B) While the demand curves facing your competitors becomes more elastic, your demand curve will be inelastic. C) The demand curve facing each restaurant owner becomes more elastic. D) The demand curve facing each restaurant owner shifts to the right.
Figure 7-7
In Figure 7-7 at 100 units, AFC equals
A. 10. B. 100. C. 180. D. 1,000.
A simple model used in your textbook to show how an economy works is the
a. renewable resources model b. normative economic model c. insatiable wants model d. econometric model e. circular flow model
Monetary policy that is focused on slowing down the economy is known as __________ monetary policy.
a. loose b. free c. expansionary d. contractionary