Other things constant, which of the following would tend to increase the demand for Disney World vacations?
A) A rise in the price of Hawaiian vacations (a substitute for Disney World)
B) A rise in income, if Disney World vacationing is a normal good
C) A fall in the price of air travel (a complementary good)
D) New information that Disney World will raise its prices once the summer season is over
E) All of the above.
E
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Orange juice drinkers want to consume more orange juice at a lower price. Which of the following events would have this effect?
A) a decrease in the population B) a decrease in the price of orange juice processing C) an increase in the cost of fertilizer used for orange groves D) a decrease in income, assuming orange juice is a normal good
The price of the average domestic good or service relative to the price of the average foreign good or service, when prices are expressed in terms of a common currency is called the ________ exchange rate.
A. fixed B. nominal C. real D. flexible
At its peak labor union membership was about _____% of the labor force.
A. 15 B. 25 C. 35 D. 45
From World War II through 2017, the United States experienced ________ recessions.
A. 2 B. 5 C. 11 D. 15