One In the News article in the text titled "The Real March Madness: Ticket Prices " described how professional scalpers use the Internet to sell hard-to-get tickets to concerts and sporting events. When scalpers resell tickets at prices closer to equilibrium,
A. A market shortage is made smaller, and the scalpers reap a profit.
B. A market shortage is made larger, and the scalpers reap a profit.
C. A market surplus is made smaller, and the scalpers reap a profit.
D. A market shortage is made larger, and the original sellers reap a profit.
Answer: A
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In the figure above, if no one owns the lake, what is the quantity of pesticide produced?
A) 300 tons per month B) 240 tons per month C) 180 tons per month D) 360 tons per month
Imagine that the economy is at a point that is above both AA and DD, where both the output and asset markets are out of equilibrium. Which first action is TRUE?
A) The economy will stay at this level in the short run. B) The exchange rate will first drop to a point on the AA schedule. C) The exchange rate will first move to a point on the DD schedule. D) The AA-DD equilibrium will shift to the position of the economy. E) The exchange rate will first move left to a position on the AA schedule.
The Superfund was designed to clean up
a. the acid rain problem b. air pollution from automobiles, buses, and trucks c. water pollution from agricultural sources (i.e., pesticides) d. water pollution from dumping raw sewage e. toxic waste dumps
Which of the following would be most likely to cause an increase in current aggregate demand in the United States?
a. increased fear that the U.S. economy was going into a recession b. an increase in the real interest rate c. sharp increase in the value of stocks owned by Americans d. a recession in Canada, Mexico, and Western Europe