Big Pools is large swimming complex. Suppose senior citizens have a demand for entrance into Big Pools that is more than half of the adults demand for entrance and there are an equal number of senior citizens and adults. If Big Pools practices two-part pricing, to earn greater profit, Big Pools ________ adjust the membership fee to include ________.
A) should not; senior citizens
B) should; only adults
C) should; senior citizens
D) should not; adults
C) should; senior citizens
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Consider two economies: Barylia and Lithasia. The GDP per capita in Lithasia is $6,000 while the GDP per capita in Barylia is $12,000. Both countries grow exponentially at an annual rate of 10%
How will their GDPs vary over the next year? Is there any limitation of comparing the absolute levels of GDP per capita of both countries over the next years? If yes, what is a plausible solution?
Suppose the economy is initially in short-run equilibrium and the Fed decreases the nominal money supply. If the price level remains constant, real GDP will ________ relative to potential GDP and the real interest rate will ________
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
Real business cycle theorists take the comovement of aggregate output and Solow residuals as strong confirmation that economic fluctuations are caused by ________
A) changes in aggregate demand B) changes in the money supply C) changes in the rate of inflation D) productivity shocks
The natural rate of unemployment is the rate that prevails when structural, frictional, and seasonal unemployment are all equal to zero, and the only source of unemployment is cyclical unemployment
Indicate whether the statement is true or false