True/False Questions. Circle either "T" for true or "F" for false: 1. A hotel's rack rate is the quoted, published rate that is charged to full-paying, non- discounted customers. T F 2. By including day rate (also known as half-day rate or day use rate) rooms as part of the occupancy figure, it is possible to exceed 100% occupancy on a given day. T F 3. One of the biggest problems facing the lodging industry today is the fact that room rates have not kept up with inflation. Inflation has been growing much faster than the average room rate in Canada. T F 4. If the hotel industry were perfectly elastic, than a decrease in rates would have a resulting increase in occupancy. T F 5. Discounting and rate cutting are synonymous. In other words, in the hospitality industry, discounting and rate cutting mean the same thing. T F