If the Palace Cinema can sell 200 tickets at $4 and 300 tickets at $3, the demand for Palace Cinema tickets between the two prices is
A) elastic.
B) inelastic.
C) marginal.
D) unit elastic.
A
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For automobile demand in the U.S., the income response tends to be larger in the:
A. The income response is the same in the long run and the short run. B. long run. C. We do not have enough information to answer this question. D.short run.
Current account transactions are payments that are related to the purchase or sale of
A) financial instruments only. B) both goods and services. C) goods only. D) services only.
Among the reasons for high CEO pay are all of the following EXCEPT
A. a corporate board might make the CEO job higher-paying in order to entice lower-level corporate officers to put forth maximum effort as they try to achieve the top position. B. paying CEOs with stock in the company will motivate the CEO to do what is in the best interests of the shareholders, and these stock packages might be very large to motivate more. C. shareholders might benefit from the prestige of investing in a company with a CEO who enjoys a high standard of living. D. the people who are capable of doing the work required of a top corporate officer are relatively scarce.
If government regulations increase the cost of producing gasoline while at the same time government regulations reduce the cost of driving a relatively inefficient sport utility vehicle (SUV),
A) the supply of gasoline is expected to increase. B) the demand for gasoline is expected to decrease. C) the price of gasoline is expected to increase, whereas the total consumption of gasoline can increase, decrease, or stay the same. D) the supply of gasoline is expected to decrease.