Criticisms of the Robinson-Patman act
a. It can reduces consumer surplus
b. It can reduces producer surplus
c. It can creates inefficiency through unconsummated transactions
d. All of the above
d
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What three factors distinguish models of endogenous growth from their neoclassical counterparts?
What will be an ideal response?
Which one of the following is/are INCORRECT? An argument against floating exchange rates is that
A) a fixed rate automatically prevents instability in the domestic money market from affecting the economy if shocks come from home domestic money market. B) a fixed rate might become unpredictable, complicating economic planning. C) a rise in money demand under a fixed exchange rate would have no effect on the exchange rate and output. D) a fixed rate functions within the price-specie-flow mechanism and maintains a balance of payments equilibrium. E) a fixed rate automatically prevents instability in the economy from output market shocks.
If the share of population employed in two countries is the same, average living standards will be higher in the country with:
A. higher average labor productivity. B. lower average labor productivity. C. the larger population. D. the smaller population.
Unemployment arising from a persistent mismatch between the skills and characteristics of workers and the requirements of jobs is called
A) frictional unemployment. B) structural unemployment. C) cyclical unemployment. D) seasonal unemployment.