Question 11 2 pts which of the following is a

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Question 11 2 pts Which of the following is a fundamental assumption of economics? People don't have adequate time to engage in a search process to find the lowest ticket price People don't understand economic analysis and cannot act in their own best interest People respond predictably to a given set of choices in order to maximize their benefits and minimize their losses People are unpredictable and respond to a given set of choices in order to maximize their available time
Question 12 2 pts Since the FAA was formed in 1958, accident rates have dropped almost
Question 13 2 pts Which characteristic of demand for air transport refers to a long-term trend of peaks and troughs of economic activity?
Question 14 2 pts Which type of unemployment is a function of the time it takes the labor market to match the available jobs with persons in the labor force?
Question 15 2 pts Which of the following is a focus of macroeconomics? decisions of individuals pricing strategy production policy the economy
Question 16 2 pts Which of the following states that quantity demanded has a negative or inverse relationship with price?
Question 17 2 pts Externalities and lack of competition are examples of what type of failures?
Question 18 2 pts Which of the following are factors that are held constant for the demand curve to not change?
Question 19 2 pts Microeconomics is the study of how individual households and businesses make decisions to distribute limited resources to maximize profit. True False
Question 20 2 pts Which of the following are determinants of demand?
Question 21 2 pts What term refers to the point of intersection between the demand curve and the supply curve?

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