When ticket scalpers buy up hundreds of Chicago Cubs tickets the day tickets go on sale, they are
A) behaving unethically.
B) hoping to buy high and sell low.
C) hoping to buy low and sell high.
D) ruining it for everyone else.
C
You might also like to view...
Refer to Table 3-3. The table above shows the demand schedules for Kona coffee of two individuals (Luke and Ravi) and the rest of the market. If the price of Kona coffee rises from $4 to $5, the market quantity demanded would
A) decrease by 115 lbs. B) increase by 35 lbs. C) decrease by 35 lbs. D) increase by 115 lbs.
If the poor cannot afford proper medical treatment, an economist, for reasons of efficiency, would favor
A. giving the poor added income to spend as he or she sees fit. B. paying doctors bonuses to treat the poor. C. paying the medical bills of the poor. D. giving the poor “medical stamps.”
If there is an excess supply of money
A) individuals sell bonds, causing the interest rate to rise. B) individuals sell bonds, causing the interest rate to fall. C) individuals buy bonds, causing interest rates to fall. D) individuals buy bonds, causing interest rates to rise.
In the formula used to measure the growth rate of multifactor productivity, the contribution of labor is represented by
A) bn. B) bk - bn. C) y - bk. D) (1 - b)n.