Suppose the Oakland Raiders football team increases their season ticket prices and total revenue from ticket sales falls, but not to zero. This fact means that the demand for Raiders tickets is
A) inelastic.
B) elastic.
C) unit elastic.
D) perfectly elastic.
E) perfectly inelastic.
B
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Rick withdraws $500 from his savings account, keeps $100 as currency, and deposits $400 in his checking account
A. M1 increases by $400 and M2 decreases by $500. B. M1 does not change, but M2 decreases by $500. C. M1 does not change, but M2 decreases by $400. D. M1 increases by $500 and M2 does not change.
The idea of an accelerator at work in the economy is associated with the
a. innovation cycle b. housing cycle c. external cycle d. internal cycle e. investment cycle
In monopolistically competitive markets, positive economic profits
a. suggest that some existing firms will exit the market. b. suggest that new firms will enter the market. c. are sustained through government-imposed barriers to entry. d. are never possible.
Refer to the graph shown. From 1980 to 1985, the U.S. dollar appreciated over 60 percent. The effect of this appreciation on the AD curve can be shown by a movement from:
A. A to B. B. A to C. C. A to D. D. B to A.