In the 12-month period ended in July, the most recent reported by the DOT, Southwest was ____ in on-time performance among major airlines.
Fill in the blank(s) with the appropriate word(s).
Ans: last
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If consumers cannot readily switch to a close substitute when the price of a good increases, the demand for that good is likely to be:
A. unit elastic. B. perfectly elastic. C. inelastic. D. elastic.
The Consumer Price Index measures the average of the prices paid by urban consumers for a ________ of consumer goods and services
A) subjective selection B) fixed market basket C) random selection D) least-cost market basket E) changing selection
Changes in the macro environment affect individual firms and industries through the microeconomic factors of demand, production, cost, and profitability
Indicate whether the statement is true or false
The Malthusian model performs poorly in explaining economic growth after the
A) French Revolution. B) American Revolution. C) Industrial Revolution. D) Bio-technology Revolution.