Each of the following is an example of price discrimination except
A. senior citizen discounts at restaurants.
B. lower-priced movie tickets at "rush hour" to attract customers at dinner time.
C. high-priced tickets just behind the bench of the NBA championship team.
D. student rates for subscriptions to Business Week.
C. high-priced tickets just behind the bench of the NBA championship team.
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Nominal and real wage rates
A) must always change by the same amount. B) must always change in opposite directions by the same amount. C) must always change in the same direction but could change by different amounts. D) could change in opposite directions. E) must always change in the same direction, and the nominal wage rate must change more rapidly than the real wage rate.
Electric car manufacturers want to sell more electric cars at a higher price. Which of the following events would have this effect?
A) an increase in the price of gasoline. B) technological advancement in the production of electric car batteries. C) an increase in the number of manufacturers of electric cars. D) a decrease in the price of lithium, which is used in the electric car batteries.
Both adaptive expectations and rational expectations are prone to error (a discrepancy between the expectation and the actual experience). In each case, how does error affect the formation of new expectations?
What will be an ideal response?
The Solow model is ________
A) the basic model of how technology changes over time B) the foundation for the classical economic thought of Adam Smith C) one of the dominant explanations of the business cycle D) based on the notion of diminishing marginal product of capital and labor