Which of the following features was prominent in the airline industry during the 1950s?
a. The airlines had to concentrate on cost reduction.
b. The airlines had to lower the frequency of flights to meet rising costs.
c. The airlines served food prepared by their own employees or by other airlines.
d. The airlines industry was revolutionized by low-cost budget airlines.
C
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The GDP of Country X in a particular year was $820,000. If the value added by U.S
workers in the production of various goods and services in Country X during that year was worth $150,000 and the value added by the workers of Country X in the production of various goods and services in other countries during that year was worth $130,000, the GNP of Country X during that year was ________. A) $1,140,000 B) $135,000 C) $8,235,000 D) $800,000
Suppose the market for cement is one where there are a large number of buyers and sellers, and everyone conducts transactions at a common market price. Which of the following statements is true about the structure of the cement market?
A) The cement market is free and competitive. B) The cement market is government regulated. C) All participants in the cement market set their own prices. D) All transactions in the cement market are likely to be involuntary.
The greater a household's ________ the less is its saving
A) return from saving B) wealth C) disposable income D) expected future profits
Which of the following predicts that there can be no sustained rise in real GDP per person above the subsistence level?
A) classical growth theory B) neoclassical growth theory C) new growth theory D) None of the above because all predict that there will be a sustained rise above the subsistence level.