Factor that always stays the same
a. dependent variable
b. independent variable
c. constant
d. correlation
Ans: c. constant
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The structural surplus is
A) the difference between the actual surplus and the natural employment surplus and it increases whenever income rises. B) identical to the natural employment surplus and it increases whenever tax rates are cut. C) identical to the natural employment surplus and it decreases whenever the natural level of output increases. D) identical to the natural employment surplus and it increases whenever the natural level of output increases.
Which of the following industries has the lowest concentration ratio?
a. breakfast cereal b. electric lamp bulbs c. household laundry equipment d. cigarettes
If a country voluntarily agrees to have its companies import more goods from another country, the country has
A. a mandated tariff. B. a voluntary restraint agreement (VRA). C. a mandated agreement. D. a voluntary import expansion (VIE) agreement.
Suppose Dublin Electronics charges regular customers $90 for a Blu-ray player but allows senior citizens to purchase the same item for $75. Is this likely to be a successful price discriminating strategy?
A) No, because there are many different brands of Blu-ray players and consumers will shop around. B) Yes, because senior citizens are likely to have a more elastic demand and therefore will be willing to pay a lower price compared to regular customers. C) Yes, firms price discriminate to maximize profits. D) No, price discrimination will not be effective because the store cannot prevent senior citizens from buying large quantities of Blu-ray players and reselling them for a profit.