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

Author Question: Suppose a long lost relative died and left you a trust fund worth 1 million that you will receive ... (Read 96 times)

Themember4

  • Hero Member
  • *****
  • Posts: 538
on: Jun 29, 2018
Suppose a long lost relative died and left you a trust fund worth 1 million that you will receive ten years from now. What effect, if any, will this have on your demand for airline travel? (Assume that airline travel is a normal good.)
 
  What will be an ideal response?

Question 2

Suppose the federal budget deficit for the year was 100 billion and the economy was in a recession.
 
  If the economy had been at potential GDP, it is estimated that tax revenues would have been 60 billion higher and government spending on transfer payments 50 billion lower. Using these estimates, the cyclically adjusted budget
  A) deficit was 210 billion. B) deficit was 110 billion.
  C) surplus was 110 billion. D) surplus was 10 billion.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

brittanywood

  • Sr. Member
  • ****
  • Posts: 355
Reply #1 on: Jun 29, 2018
Answer to Question 1

This will likely increase your demand for airline travel, shifting the curve to the right.

Answer to Question 2

D


Themember4

  • Member
  • Posts: 538
Reply 2 on: Jun 29, 2018
:D TYSM

alexanderhamilton

  • Member
  • Posts: 334
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

Did you know?

Looking at the sun may not only cause headache and distort your vision temporarily, but it can also cause permanent eye damage. Any exposure to sunlight adds to the cumulative effects of ultraviolet (UV) radiation on your eyes. UV exposure has been linked to eye disorders such as macular degeneration, solar retinitis, and corneal dystrophies.

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Defensive mutualism involves species that receive food or shelter in return for providing protection Defensive mutualism involves species that receive food or shelter in return for providing protection
Internal structures of main sequence stars, convection zones with arrowed cycles and radiative zones Internal structures of main sequence stars, convection zones with arrowed cycles and radiative zones
Role of PKM-zeta in Long-Lasting Long-Term Potentiation Role of PKM-zeta in Long-Lasting Long-Term Potentiation
Relative Humidity Relative Humidity
Structures of human DNA polymerase g (left) and T7 phage DNA polymerase (right) holoenzymes Structures of human DNA polymerase g (left) and T7 phage DNA polymerase (right) holoenzymes
How to reflect the quadratic function relative to the x-axis How to reflect the quadratic function relative to the x-axis
Video: Cavernous Sinus Larynx Middle Ear Orbit: Granulesm Animation

For a complete list of videos, visit our video library