Which of the following is not an example of price discrimination?
A. discounted coffee for senior citizens at restaurants
B. student discounts at movie theaters
C. airlines charging lower prices to travelers who stay over a Saturday night
D. back-to-school sales
Answer: D
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When the exchange rate falls, in the foreign exchange market the
A) quantity demanded of the currency increases. B) demand for the currency increases. C) quantity demanded of the currency decreases. D) demand for the currency decreases.
According to the quantity theory of money
A) a change in the money supply can lead only to a proportionate change in the price level. B) the velocity of money is the least stable factor in monetary analysis. C) the rate of inflation is not related to changes in the money supply. D) price level changes can best be explained by Keynesian analysis.
Which of the following is included in the calculation of GDP?
a. The purchase of tutoring services from a tutor who holds citizenship outside the country but resides within the country. b. The purchase of a new edition of a foreign textbook that was produced in a different nation. c. The purchase of ink and paper supplies by a textbook company for the production of new textbooks. d. The purchase of a used textbook from a friend who took the same class last year.
Demand is elastic when the elasticity is ______.
a. less than 1 b. less than 2 c. greater than 1 d. greater than 2