Round-trip airline tickets are usually cheaper if you stay over a Saturday night before you fly back. What is the reason for this price discrepancy?
a. Airlines are practicing imperfect price discrimination to raise their profits.
b. Airlines charge a different rate based on the different nature of peoples' travel needs.
c. Airlines are attempting to charge people based on their willingness to pay.
d. All of the above are correct.
d
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The table above gives a nation's investment demand and saving supply schedules. It also has the government's net taxes and expenditures. The government has a budget
A) surplus of $60 billion. B) deficit of $20 billion. C) surplus of $20 billion. D) deficit of $60 billion. E) surplus of $40 billion.
According to the quantity theory of money, a decision on the part of all business firms currently paying employees on a monthly basis to begin paying on a weekly basis would be expected to
a. increase velocity and increase nominal GDP. b. increase velocity and decrease nominal GDP. c. decrease velocity and increase nominal GDP. d. decrease velocity and decrease nominal GDP.
In Macroland, 500,000 of the 1 million people in the country are employed. Average labor productivity in Macroland is $20,000 per worker. Real GDP per person in Macroland totals:
A. $40,000. B. $15,000. C. $10,000. D. $1,000.
Use the following graphs to answer the next question.
A short-run equilibrium that would produce losses for a monopolistically competitive firm would be represented by graph
A. A. B. B. C. C. D. D.