Matt has decided to purchase his textbooks for the semester. His options are to purchase the books online with next day delivery at a cost of $175, or to drive to campus tomorrow to buy the books at the university bookstore at a cost of $170. Last week he drove to campus to buy a concert ticket because they offered 25 percent off the regular price of $16. The benefit to Matt of driving to campus to buy the concert ticket last week was:
A. $4
B. $2
C. $16
D. $9
Answer: A
You might also like to view...
In Quarto, farmers must obtain permission from the government to grow and sell tobacco beyond a stipulated level. The government sets a quota on the acres of land that a farmer can cultivate, but farmers may rent out their land and the quota associated with it. This is an example of a _____
a. corrective tax b. property tax c. tradable permit d. gift tax
For most of U.S. modern economic history, when the unemployment rate is _______, real GDP is _________.
A) falling; rising b) falling; falling C) rising; unchanged D) rising; rising
Inflation inertia is the result of the behavior of ________ and the existence of ________.
A. real and nominal interest rates; an output gap B. autonomous aggregate demand; the Fed's policy reaction function C. the central bank; automatic stabilizers D. inflation expectations; long-term wage and price contracts
As products become more differentiated:
A. consumers are less willing to switch in response to price changes and competition becomes more intense. B. consumers are more willing to switch in response to price changes and competition becomes more intense. C. consumers are less willing to switch in response to price changes and competition becomes less intense. D. consumers are more willing to switch in response to price changes and competition becomes less intense.