What Would an Economist Predict Would Happen If Airfares to Europe

question 167

Multiple Choice

What would an economist predict would happen if airfares to Europe were to increase?

• A) Airlines would make significantly greater profits.
• B) Most people would not change their travel and vacation plans.
• C) More individuals would choose to fly to Europe because now it is a more valuable experience.
• D) Many individuals would substitute toward other travel destinations.

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Definitions:

Interactionist Theories

Approaches that emphasize how individuals and society interact, shaping personal identity and social structures through this interplay.

Language Development

The process by which children come to understand and communicate language during early childhood.

Functional Fixedness

A bias in cognition that confines a person to employ an object exclusively in its customary use, obstructing the process of generating creative solutions.

Mental Sets

Mental sets refer to the tendency to approach situations in a certain way because that method worked in the past, potentially preventing us from seeing alternative solutions.