Which of the following terms describes a restrictive practice that involves forcing the purchase of a second good when purchasing another good?
a. Exclusive dealing
b. Predatory pricing
c. Tying
d. Bundling
c. Tying
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Which of the following is a private owner prohibited from doing?
What will be an ideal response?
If the value of your savings is increasing over time, it must be true that the inflation rate:
A. must be zero. B. is higher than the nominal interest rate. C. is lower than the nominal interest rate. D. and the nominal interest rate are the same.
Which of the following is a sound economic reason why the government should subsidize your college education?
A. To help the school's monopoly power over private schools. B. Third parties, other than yourself, benefit from you being educated. C. The profit motive would cause the private sector to overproduce education. D. It is too expensive.
Financial instruments are different from money because they:
A. have greater liquidity. B. can allow for the transfer of risk. C. can act as a store of value and money cannot. D. can't be a means of payment but money can.