When a good ends up undersupplied, we can assume it is a:
A. common resource.
B. private good.
C. public good.
D. transitory good.
C. public good.
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Almost all of the FICA tax deductions from a worker's paycheck is put into an account and saved for that worker's retirement years
a. True b. False Indicate whether the statement is true or false
Exhibit 8-19 Long-run perfectly competitive industry
As shown in Exhibit 8-19, assume that a perfectly competitive industry is in long-run equilibrium at point A. If the demand curve shifts from D1 to D2, the adjustment sequence between points will be:
A. A to B, then back to A. B. A to D, then back to A. C. A to D, then to C. D. A to B, then to C.
Which would be evidence of price discrimination at a local bar called Heaters?
A. Charging lower prices to customers wearing Heaters t-shirts. B. Charging lower prices during Happy Hour from 5 to 6 p.m. C. Charging higher prices than under perfect competition. D. Charging higher prices for imported than for domestic beer.
If prices are sticky:
A. economic activity will be coordinated efficiently. B. economic activity will not be coordinated efficiently. C. prices will quickly adjust to changes in demand. D. quantity supplied will always equal quantity demand.