A > B means:
A. bundle A is equally preferred to bundle B.
B. bundle A is not preferred to bundle B.
C. bundle A is preferred to bundle B.
D. bundle A is greater than bundle B.
Answer: C
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The output gap is the
A) difference in graduation levels between high school and college. B) difference between actual inflation and core inflation. C) percentage deviation of real GDP from potential GDP. D) percentage increase in the growth rate of real GDP. E) percentage increase in the growth rate of real GDP minus the unemployment rate.
________ is an experiment that tests the significance of fairness in consumer decision making
A) The ultimatum game B) The fairness challenge C) The consumer choice paradigm D) The Giffen paradox
Discuss the costs associated with high inflation
Suppose the cost of flying a 100-seat plane for an airline is $50,000 and there are 10 empty seats on a flight. The average cost per seat is
a. $50. b. $500. c. $50,000. d. This cannot be determined from the information given.