If airports decide to compensate people who suffer from airplane noise because their homes are under the runway approaches, to whom should they offer monetary payments? The people who
A) actually live in affected residences.
B) are bothered by the noise but themselves never travel on commercial airlines.
C) both own affected residences and live in them.
D) either own affected residences or live in them.
E) own affected residences whether or not they live in them.
E
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The price elasticity of demand is defined as the magnitude of the
A) change in quantity demanded divided by the change in price. B) change in price divided by the change in quantity demanded. C) percentage change in quantity demanded divided by the percentage change in price. D) percentage change in price divided by the percentage change in quantity demanded.
__________ costs associated with matching buyers & sellers are significant.
Fill in the blank(s) with the appropriate word(s).
An economy in which output has decreased and prices have decreased would suggest a:
A. decrease in short-run aggregate supply. B. increase in aggregate demand. C. increase in short-run aggregate supply. D. decrease in aggregate demand.
If the quantity of money demanded exceeds the quantity of money supplied, then
A. you can make no conclusions about the relative supply and demand of nonmonetary assets. B. the quantity of nonmonetary assets demanded will still equal the quantity supplied, all else being equal. C. the quantity of nonmonetary assets supplied exceeds the quantity demanded. D. the quantity of nonmonetary assets demanded exceeds the quantity supplied.