People scalping tickets for a rock concert can sell their tickets for at least a normal profit
A. when the price set by the concert hall is less than the market equilibrium price.
B. when prices are too high.
C. only when there is excess supply.
D. any time the rock group is popular.
Answer: A
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Which type of economy must answer the questions of what goods to produce, how to produce them, and for whom to produce them?
A. A centrally planned economy B. A market-based economy C. A developing economy D. All types of economies must answer these questions.
The above figure shows the market for pizza. The market is in equilibrium when people's incomes decrease. If pizza is a normal good, then which point represents the most likely new price and quantity?
A) A B) B C) C D) D E) E
A key tool of countercyclical fiscal policy is
a. the interest rate b. the federal funds rate c. the tax code d. the regulatory code e. Presidential executive orders
A merger between Bank of America and Citibank would be a ____ merger.
A. horizontal B. vertical C. conglomerate D. diversifying