Over a 19-month period ending in July, 130 million domestic and international round-trip tickets worth $94 billion showed the lowest average price, of _____, was on Sunday.
Fill in the blank(s) with the appropriate word(s).
Ans: $432
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In an economy where aggregate spending is given by Y = 3,000 + .75Y - 10,000 r, the central bank is currently setting the interest rate at 0.05 (5 percent). If potential output equals 10,800, the central bank must ________ the interest rate to close the ________ gap.
A. lower; recessionary B. raise; recessionary C. raise; expansionary D. lower; expansionary
A currency depreciation in the foreign exchange market will ________.
A. encourage foreign travel by the citizens of the country whose currency has depreciated B. discourage exports from the country whose currency has depreciated C. discourage imports into the country whose currency has depreciated D. encourage imports into the country whose currency has depreciated
The maximum amount of production that can be produced while avoiding shortages of labor, capital, land, and entrepreneurship that would bring rising inflation is called
A) real GDP. B) nominal GDP. C) actual GDP. D) potential GDP.
In an oligopolistic market,:
A. the larger the number of firms and the more elastic the demand, the greater the markup. B. the larger the number of firms and the less elastic the demand, the greater the markup. C. the smaller the number of firms and the less elastic the demand, the greater the markup. D. the smaller the number of firms and the more elastic the demand, the greater the markup.