Inland passage times were reduced primarily through
a. increasing the speeds of the boats themselves.
b. shorter layover times.
c. the government activity to clear the rivers of natural obstructions.
d. learning to operate the boats at night.
d. learning to operate the boats at night.
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At full employment, actual ________ equals ________
A) real GDP; potential GDP B) real GDP; nominal GDP C) unemployment; zero D) potential GDP; nominal GDP E) nominal GDP; potential GDP
Sue's Surfboards is the sole renter of surfboards on Big Wave Island. Sue does not price discriminate. For Sue's Surfboards, the change in total revenue from each additional surfboard rented is her
A) marginal revenue and is equal to the rental price of a surfboard. B) marginal cost and is greater than the rental price of a surfboard. C) marginal revenue and is less than the rental price of a surfboard. D) marginal cost and is constant regardless of how many surfboards are rented.