If we were to look at the demand curve for a business traveler on an airline versus a casual vacationer on the same airline, we would see that ______.
a. the business traveler would have a nearly horizontal curve
b. both curves would have approximately the same slope
c. the casual vacationer would have a less steep slope
d. the casual vacationer would have a nearly vertical slope
c. the casual vacationer would have a less steep slope
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If the MPC = 1, the spending multiplier is:
A. infinite. B. zero. C. 1. D. 10.
Political instability is an obstacle to development in:
A. both market and socialist economies. B. neither market nor socialist economies. C. market economies. D. socialist economies.
Which of the following statements is true?
A. An increase in inventories can reduce gross investment. B. Government intervention to help recover from a recession can increase the government deficit. C. The aggregate expenditures model shows the relationship between unemployment and income. D. A decrease in imports reduces aggregate expenditures in the economy.
Recall the Application about the shutdown price for coal to answer the following question(s).According to the Application, there are still some mines that are in operation in the United States. Because 4 West Mine has now shut down, what must be true about 4 West Mine and the other operational mines?
A. 4 West Mine's AVC is higher than the other remaining mines. B. 4 West Mine's AVC is lower than the other remaining mines. C. 4 West Mine's ATC is higher than the other remaining mines. D. 4 West Mine's ATC is lower than the other remaining mines.