The Price of an Airline Ticket from Denver to Washington

question 140

Multiple Choice

The price of an airline ticket from Denver to Washington, D.C. costs $600. A bus ticket costs $150. Traveling by plane takes 6 hours compared with 51 hours by bus. Other things constant, an individual would gain by choosing air travel if, and only if, his time were valued at more than

• A) $6 per hour.
• B) $8 per hour.
• C) $10 per hour.
• D) $15 per hour.

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Registered Retirement Savings Plan, a savings account, registered with the Canadian government, that defers income taxes on retirement savings until withdrawal.

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The act of gathering or collecting over a period of time, often resulting in an increase in quantity.

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An annuity where the payments are made at the end of each period for a fixed length of time.

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