Season ticket holders often purchase their tickets before a season begins. There is often a discount associated with season tickets. Why?
A) Buying season tickets entails risk, which consumers are willing to bear if they are compensated for doing so.
B) Buying season tickets is a way of guaranteeing a supply of tickets for the secondary market.
C) Selling season tickets entails greater transactions costs which team owners hope to avoid.
D) Sports teams are local monopolies.
A
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A) leases. B) warranties. C) low interest rates. D) low prices.
If there is a decrease in demand for lettuce, we would expect:
a. both the price and quantity sold to increase. b. both the price and quantity sold to decrease. c. the price to decrease and the quantity sold to increase. d. the price to increase and the quantity sold to decrease.
Personal saving
a. equals national income less personal consumption expenditures. b. is personal disposable income minus consumption expenditures. c. is the value of stocks and bonds. d. equals personal income minus taxes. e. is personal disposable income less personal taxes.
To deal with the financial crisis of 2007-2009, the Fed extended its lender of last resort function to include institutions other than banks
Indicate whether the statement is true or false