A requirement that buyers of one service also purchase another service from the same seller is called
a. exclusive dealing
b. an interlocking merger
c. a second good contract
d. a tying contract
e. a legal agreement
D
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Changes in the federal funds rate usually result in
A) changes in both short-term and long-term interest rates with more of an effect on short-term interest rates. B) changes in both short-term and long-term interest rates with equal effect on both. C) changes in both short-term and long-term interest rates with more of an effect on long-term interest rates. D) no change in either short-term or long-term interest rates.
Along an IS curve as interest rates __________, income must be __________ so that saving, which is a positive function of income, can be higher to equal the higher level of investment
A) decline; lower B) decline; higher C) increase; lower D) increase; higher
If the total cost curve is greater than the total revenue curve at every level of output, the firm incurs a loss
Indicate whether the statement is true or false
Why would it be a mistake to treat opportunity costs and explicit monetary costs as identical?
a. Because sometimes the market does not function well. b. Because opportunity costs are different for different goods. c. Because there are trade-offs involved in any decision. d. Because of existence of efficient markets.