If we say that two variables are directly related, this means that:
A. the relationship between the two is purely random.
B. an increase in one variable is associated with a decrease in the other variable.
C. an increase in one variable is associated with an increase in the other variable.
D. the two graph as a downsloping line.
Answer: C
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During the severe 2007-2009 recession, Delta Airlines sold ________ passenger tickets and ________ the prices of the tickets it did sell. The result was a $1.2 billion loss in 2009
A) fewer; raise B) more; raise C) more; cut D) fewer; cut
Movie theaters are able to offer discounts to senior citizens because:
a. the elderly deserve lower prices because of their contributions to society. b. senior citizens have the most inelastic demand. c. theaters can separate senior citizens from other customers, and it is easier to prevent resale. d. senior citizens cannot see the movie very well because of poor eyesight. e. senior citizens are frequent visitors to the movie theaters.
Open-market operations generally involve the purchase and sales of
A. government securities. B. stocks and bonds. C. coins and currency. D. Federal Reserve notes.
Transactions costs are the
A) costs of using the Coase theorem. B) opportunity costs of conducting a transaction. C) external marginal costs of the externality. D) reason why taxes cannot affect the inefficiency resulting from an external cost. E) external costs when a firm pollutes.