For a cruise liner deciding how to price its rooms, if the cost of overpricing is lower than the cost of underpricing, then the management of the cruise liner should
a. Price lower than what they expect would fill capacity
b. Price higher than what they expect would fill capacity
c. Price such that they would expect to just fill capacity
d. None of the above
b
Economics
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Economists call the idea that increases in government spending cause decreases in private investment
a. crowding out b. locking in c. the liquidity trap d. automatic stabilization e. the Phillips trade off
Economics
At various times, the United States has undergone the painful process of reducing military spending. Military bases from the Carolinas to California pleaded to be spared, citing huge job losses if they close. How can one rationally decide which bases to shut down, given the necessity of jobs?
Economics