Which of the following conditions must be satisfied for price discrimination to be successful?
A. The seller must have a different product for each group of customers
B. The seller must be able to identify each customer as having a high or low value
C. The seller must be able to prevent arbitrage between the two groups
D. None of these
Answer: D. None of these
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Which of the following creates difficulties in making comparisons of real GDP across nations?
A) Each nation has a different population. B) Relative prices differ sharply across countries. C) Nations produce different goods and services. D) Nations often have different languages.
If firms in a perfectly competitive industry produce an undifferentiated product, it is not possible to increase profits of the individual firms in the industry by increasing market demand for the product because of the large number of available
substitutes. Indicate whether the statement is true or false
If we assume the required reserve rate is ten percent (0.1), and that the public does not change their currency holdings and that banks do not hold any excess reserves, what will be the change in deposits resulting from a $150 million open market purchase by the Fed?
What will be an ideal response?
The natural rate of unemployment is the rate of unemployment
A) that occurs when the money market is in equilibrium. B) that occurs when the markup of prices over costs is zero. C) where the markup of prices over costs is equal to its historical value. D) that occurs when both the goods and financial markets are in equilibrium. E) none of the above