Weekly Review Quiz as of 2013-02-06

Economics: Micro

Southwest, JetBlue Win Most of Slots at Reagan National Airport
by Jack Nicas
01/31/2014

1. Southwest Airlines Co. and JetBlue Airways Corp. will soon be much bigger players at Reagan National Airport after they won most of the slots that American Airlines Group Inc. is ceding there in its antitrust settlement with the government. The winning bids bode well for those flying between Reagan National and

a) Canada
b) Europe
c) the southwest
* d) major east coast and midwest cities
e) major west coast cities

Wal-Mart Warns About Holiday Earnings
by Shelly Banjo and Suzanne Kapner
02/01/2014

2. January is usually a month where retailers use deep discounts to clear goods that did not sell in November and December. But, this January was different in part because

* a) shoppers already had a chance in December to snap up bargains.
b) household heads have been losing their jobs.
c) retailers have been reducing the number of hours they are open for business.
d) retailers have been raising prices.
e) retailers have been cutting back on advertising.

3. Earlier this month, Starbucks Corp. reported lower-than-expected sales growth at stores open at least a year, citing

a) reports raising new concerns about the relationship between caffeine consumption and heart disease.
b) higher prices at these outlets.
* c) a drop in traffic at malls and shopping centers.
d) the recent expansion of Peet’s Coffee.
e) the aging of coffee drinkers.

Essay. Making High-Speed Trains Work in the U.S.
by Tom Zoellner
02/01/2014

4. This week’s essay “Making High-Speed Trains Work in the U.S.” suggests that high-speed train service between two points would be successful only if

a) the train travels through densely-populated areas.
b) the travel time from station entry to station exit is lower than from airport entry to airport exit.
c) rail fares are lower airline prices.
* d) there are ample transportation options at each destination.
e) the high-speed tracks can be used also by freight trains.

Airline-Pilot Shortage Arrives Ahead of Schedule
by Susan Carey and Jack Nicas
02/04/2014

5. Airlines are facing a current pilot shortage in part due to

a) low wages in the industry.
b) competition for pilots by the armed forces and private jet owners.
* c) heavy hiring in the 1980s and relatively thin hiring over the past decade.
d) the new federal regulation requiring all new pilots to have earned bachelor’s degrees in engineering.
e) the new international regulation requiring three pilots in overseas flights.

Health Law To Cut Into Labor Force
by Louise Radnofsky and Damian Paletta
02/05/2014

6. The new health law is projected to reduce the total number of hours Americans work by the equivalent of 2.3 million full-time jobs in 2021, a bigger impact on the workforce than previously expected, according to a report by the

a) American Enterprise Institute.
b) Brookings Institute.
* c) Congressional Budget Office.
d) Department of Commerce.
e) President’s Council of Economic Advisers.