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Author Question: If airfares to Europe were to increase, other things equal, an economist would predict that: a. ... (Read 27 times)

joe

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on: Jun 30, 2018
If airfares to Europe were to increase, other things equal, an economist would predict that:
 a. most people will not change their travel and vacation plans.
 b. more individuals will choose to fly to Europe because now it is a more valuable experience.
  c. some individuals will substitute toward other travel destinations.
 d. airlines will make significantly greater profits.

Question 2

Given a constant rate of growth of real GDP, what would cause a fall in real GDP per capita?
 a. a rate of population growth that is less than the rate of growth of real GDP
  b. a rate of population growth that is greater than the rate of growth of real GDP
  c. an increase in the size of the labor force
 d. an overall decrease in population


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aloop

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

b


joe

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Reply #2 on: Jun 30, 2018
Thank you :)


aloop

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Reply #3 on: Jun 30, 2018
Happy to help you


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