The practice of charging customers different prices for the same good is called:
A. price marking.
B. customer discrimination.
C. group discounting.
D. price discrimination.
Answer: D
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In the business cycle, what immediately precedes the time when real GDP is falling?
A) depression B) peak C) recession D) expansion E) trough
The ability to quickly convert an asset into cash is
A) disintermediation. B) the standard of deferred payment. C) financial intermediation. D) liquidity.
Assuming that firms maximize profits, how will the price and output policy of an unregulated monopolist compare with ideal market efficiency?
a. The output of the monopolist will be too large and its price too high. b. The output of the monopolist will be too large and its price too low. c. The output of the monopolist will be too small and its price too high. d. The output of the monopolist will be too small and its price too low.
The Federal Reserve is powerful because it can influence _______ through its control over _______.
A. the money supply; aggregate demand B. interest rates; aggregate supply C. aggregate demand; the money supply D. aggregate supply; interest rates