A monopoly that price discriminates ______
A. benefits buyers because it offers the good at a variety of prices
B. gains because it converts consumer surplus to economic profit
C. uses resources more efficiently than would a competitive market
D. enables buyers to maximize their consumer surplus
B Price discrimination converts consumer surplus to economic profit.
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For a long time, your firm has been paying its workers a wage of $20 per hour and your employees have been happy to work 40 hours per week at this wage
Business is suddenly booming and your firm would really like your workers to agree to a 50-hour work week in order to meet this new demand for your product. You are considering two strategies. Under the first, you would raise the wage for all hours worked from $20 per hour to $22 per hour; under the second, you would leave the wage for the first 40 hours per week at $20 but offer $30 per hour for hours worked above 40 hours (that is, you would offer time and a half for overtime). Both strategies have the same cost of $1,100 if a worker chooses to work 50 hours. Which strategy is more likely to lead your employees to agree to a 50-hour work week?
The current worth of a claim on future resources is called:
A. net present value. B. future value. C. present discounted value. D. internal rate of return.
The cost to society of unemployment can be expressed in terms of
a. increased unemployment benefits paid for by taxpayers b. lower real GDP c. increased government involvement in the economy d. decreased tax revenues e. increased government spending
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward