This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Prices of commercial airline tickets (assume that this is a normal good) have fallen in recent ... (Read 139 times)

WhattoUnderstand

  • Hero Member
  • *****
  • Posts: 517
on: Jun 29, 2018
Prices of commercial airline tickets (assume that this is a normal good) have fallen in recent months. Over this same period, the price of jet fuel has risen and consumer incomes have fallen.
 
  Which of the following best explains the falling prices of airline tickets?
  A) The supply curve for airline tickets has shifted to the left while the demand curve for airline tickets has shifted to the right.
  B) The demand curve for airline tickets has shifted to the left more than the supply curve has shifted to the left.
  C) The supply curve for airline tickets has shifted to the left more than the demand curve has shifted to the left.
  D) The demand curve and the supply curve for airline tickets have both shifted to the right.

Question 2

Because Federal Reserve Notes (paper currency) are legal tender,
 
  A) U.S. creditors must accept them in payment of debts.
  B) U.S. workers must accept them as payment for labor services.
  C) U.S. firms must accept them as payment for goods and services.
  D) All of he above are correct.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

aliotak

  • Sr. Member
  • ****
  • Posts: 326
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

A


WhattoUnderstand

  • Member
  • Posts: 517
Reply 2 on: Jun 29, 2018
Gracias!

mohan

  • Member
  • Posts: 362
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Chest Configurations, Normal Adult, Barrel Chest, Pectus Carinatum, Pectus Excavatum Chest Configurations, Normal Adult, Barrel Chest, Pectus Carinatum, Pectus Excavatum
Comparison of normal-shaped erythro- cytes and the abnormal sickle shape noted in patients with sick Comparison of normal-shaped erythro- cytes and the abnormal sickle shape noted in patients with sick
Normal and enlarged tonsils. Normal and enlarged tonsils.
Electrophoresis gel in a densitometer. SPE densitometry showing a normal pattern. Electrophoresis gel in a densitometer. SPE densitometry showing a normal pattern.
"No Oven Needed" Energy Bars Try this recipe as an inexpensive alternative to commercial ... "No Oven Needed" Energy Bars Try this recipe as an inexpensive alternative to commercial ...
Vitamin and minerals are essential for normal body functioning. Vitamin and minerals are essential for normal body functioning.
Video: How eudicots (true dicots) differ from monocots Animation

For a complete list of videos, visit our video library