People scalping tickets for the Super Bowl will be successful at selling the tickets for a profit
A. any time the Super Bowl is popular.
B. when the price set by the National Football League is less than the market equilibrium price.
C. when prices are too high.
D. only when there is excess supply.
Answer: B
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By the late 1800s, soft coal miners earned a higher hourly wage than other industrial workers of similar skill levels. The mining wage is an example of
a. wage discrimination. b. a monopsony market. c. a compensating wage differential. d. an efficiency wage.
The irrelevance of monetary changes for real variables is called monetary neutrality. Most economists accept monetary neutrality as a good description of the economy in the long run, but not the short run
a. True b. False Indicate whether the statement is true or false
If you earned an additional $1,000 of taxable income and paid $220 in taxes on that income, what would your marginal tax rate be?
What will be an ideal response?
A surplus exists when there is excess demand in a market.
Answer the following statement true (T) or false (F)