Figure 15.2 depicts a one-mile stretch of beach with 100 swimmers distributed evenly along the beach. There are two ice cream vendors - 1 and 2 - on the beach selling an identical product. Assume that each swimmer buys only one ice cream cone and that they prefer to buy ice cream from the nearer vendor. If vendor 1 is at B while vendor 2 is at D, vendor 1 will sell ________ ice cream cones while vendor 2 sells ________ ice cream cones.
A. 45; 55
B. 50; 50
C. 55; 45
D. 60; 40
Answer: A
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Refer to the scenario above. If Joseph prefers fairness to money, ________
A) he will not accept any offer made by Phillip B) he will always accept any offer made to him C) he will accept the offer if offered an equal share of the money D) Phillip will offer the minimum amount of money to Joseph
Since 1960, the biggest gain in its share of federal outlays has been in
a. income redistribution b. defense spending c. net interest d. infrastructure e. all other outlays
An expansionary fiscal policy:
a. may include reductions in taxes. b. may include discretionary increases in transfer payments. c. may include increases in government spending. d. All of the answers are correct.
If the supply of aisle seats equals the supply of middle seats on an airplane, and the demand for aisle seats is _____________ than the demand for middle seats, then the equilibrium price of aisle seats will be ______________ the equilibrium price of middle seats
A) greater; higher than B) less; higher than C) greater; lower than D) less; the same as