Based on Experience, the Manager at the Giraffe Hotel Decides

question 49

Multiple Choice

Based on experience, the manager at the Giraffe Hotel decides to accept a reservation for a party of 12 guests knowing that his hotel is sold out. She is accepting the reservation because

• A) She can cancel the reservations of the 12 lowest-paying guests and get more revenue from the new guests.
• B) She can make arrangements with the neighboring hotel to accept the 12 guests.
• C) She is using overbooking techniques and has determined that she can safely accept the 12 guests.
• D) She knows she will have 6 cancellations and 6 no-shows among the current reservations.

Understand the relationship between federal budget deficits/surpluses and the national debt.

Comprehend the impact of taxes and government spending on real GDP.

Understand the principles of fiscal policy and its use in stabilizing the economy.

Recognize the role and impact of automatic stabilizers in the economy.

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Definitions:

Committee

A group of people appointed for a specific function, typically consisting of members of a larger group.

Groupthink

A psychological phenomenon that occurs within a group of people when the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Majority Opinion

The viewpoint held by the greater number of members within a group, often reflected in decision-making processes.

Unpopular Opinions

Views or beliefs that are contrary to the mainstream or accepted consensus, often provoking discussion or debate.