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 110 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
Excellent

xiaomengxian

  • Member
  • Posts: 311
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Did you know?

After 5 years of being diagnosed with rheumatoid arthritis, one every three patients will no longer be able to work.

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?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

Retinopathy. Illustration of a normal retina (left) and a diseased retina (right). The diseased reti Retinopathy. Illustration of a normal retina (left) and a diseased retina (right). The diseased reti
The principle of faunal succession uses animal fossils to tell relative time. The principle of faunal succession uses animal fossils to tell relative time.
Luna Park at Coney Island was a vast living theater in which strollers were both spectators and acto Luna Park at Coney Island was a vast living theater in which strollers were both spectators and acto
According to Kohlberg’s theory, only a few individuals, such as Martin Luther King, Jr. (left) and ... According to Kohlberg’s theory, only a few individuals, such as Martin Luther King, Jr. (left) and ...
Undrape the left leg up to the waist, being careful not to expose the gluteal cleft. Tuck the drape ... Undrape the left leg up to the waist, being careful not to expose the gluteal cleft. Tuck the drape ...
Summer squash exhibiting various fruit-shape phenotypes, including disc, long, and sphere Summer squash exhibiting various fruit-shape phenotypes, including disc, long, and sphere
Video: Introduction to Heart Attacks

For a complete list of videos, visit our video library