In Figure 4.1, the demand curve that has an infinite elasticity is shown on graph:
A. A.
B. B.
C. C.
D. D.
Answer: B
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In the long run, larger budget deficits lead to ________
A) higher saving levels B) a fall in investment C) lower interest rates D) all of the above E) none of the above
Suppose the cost of flying a 200-seat plane for an airline is $100,000 and there are 10 empty seats on a flight. The airline should sell a ticket to a standby passenger only if the passenger is willing to pay
a. more than $200. b. more than $300. c. more than $500. d. This cannot be determined from the information given.
Economists pay special attention to making choices at the margin
a. true b. false
Refer to the figure below. In the matrix above: 
A. both Cory and Jess have the same dominant strategy. B. Cory has a dominant strategy, but Jess does not. C. neither Cory nor Jess has a dominant strategy. D. Jess has a dominant strategy, but Cory does not.