One way to allocate 1,000 (stadium capacity) football tickets priced at $20 to 2,000 would-be buyers is to
a. put the tickets on sale for half price
b. increase market efficiency
c. make the tickets available to more people at the low price
d. use a price ceiling to ensure that the market will remain in equilibrium
e. implement a ration coupon system
E
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Suppose bad weather in Florida unexpectedly results in a much smaller citrus crop than had been projected. This would tend to cause the labor supply curve for citrus pickers to
A) shift to the left, causing the labor demand curve to shift to the left. B) remain unchanged, and the wage rate would tend to increase. C) shift to the right, causing the labor demand curve to shift to the right. D) remain unchanged, and the wage rate would tend to decrease.
Business inventories increase when firms produce ________.
A. less than they sell, and the inventory increase is subtracted from GDP B. more than they sell, and the inventory increase is subtracted from GDP C. more than they sell, and the inventory increase is added to GDP D. less than they sell, and the inventory increase is added to GDP