Graded Quiz Unit 6
Started on
State Finished
Completed on
Time taken 28 mins 5 secs
Marks 21.00/21.00
Grade 100.00 out of 100.00
Top of Form
Question 1
Correct
Mark 1.00 out of 1.00
Flag question
Question text
Because tourist demand for airline flights is relatively _______ , small _______ in price
will result in relatively _______ in additional tourists.
Question 1 Select one:
a.
inelastic; reductions; very small increases
b.
elastic; reductions; large increases
c.
inelastic; increases; small decreases
d.
elastic; increases; no change
Feedback
The correct answer is: elastic; reductions; large increases
Question 2
Correct
Mark 1.00 out of 1.00
Flag question
Question text
, In this exhibit (Figure 7-2), the potential output in this economy is:
Question 2 Select one:
a.
$7,000 billion at a price level of 1.16.
b.
$7,000 billion at a price level of 1.12.
c.
$7,000 billion at a price level of 1.08.
d.
described correctly in all of the above.
Feedback
The correct answer is: described correctly in all of the above.
Question 3
Correct
Mark 1.00 out of 1.00
Flag question
Question text
Monopolistic competition is an industry characterized by:
Question 3 Select one:
a.
a product with no close substitutes.
b.
Started on
State Finished
Completed on
Time taken 28 mins 5 secs
Marks 21.00/21.00
Grade 100.00 out of 100.00
Top of Form
Question 1
Correct
Mark 1.00 out of 1.00
Flag question
Question text
Because tourist demand for airline flights is relatively _______ , small _______ in price
will result in relatively _______ in additional tourists.
Question 1 Select one:
a.
inelastic; reductions; very small increases
b.
elastic; reductions; large increases
c.
inelastic; increases; small decreases
d.
elastic; increases; no change
Feedback
The correct answer is: elastic; reductions; large increases
Question 2
Correct
Mark 1.00 out of 1.00
Flag question
Question text
, In this exhibit (Figure 7-2), the potential output in this economy is:
Question 2 Select one:
a.
$7,000 billion at a price level of 1.16.
b.
$7,000 billion at a price level of 1.12.
c.
$7,000 billion at a price level of 1.08.
d.
described correctly in all of the above.
Feedback
The correct answer is: described correctly in all of the above.
Question 3
Correct
Mark 1.00 out of 1.00
Flag question
Question text
Monopolistic competition is an industry characterized by:
Question 3 Select one:
a.
a product with no close substitutes.
b.
