A local restaurant offers "early bird" price discounts for dinners ordered from 4:30 to 6:30 PM. This is an example of
A) peak-load pricing.
B) second-degree price discrimination.
C) a two-part tariff.
D) tying.
E) none of the above
A
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Shoe-leather costs refer to:
A. the money, time, and opportunity used to change prices to keep pace with inflation. B. the time, money, and effort one has to spend managing cash in the face of inflation. C. being penalized via taxes for making more money in dollars, even though real purchasing power hasn't changed at all. D. labor costs associated with inflation.
Imposing an import quota causes the domestic real exchange rate to
a. appreciate, which increases foreign demand for domestic goods. b. appreciate, which decreases foreign demand for domestic goods. c. depreciate, which increases foreign demand for domestic goods. d. depreciate, which decreases foreign demand for domestic goods.
Which statement is false?
A. The main liberal theories of poverty are employment discrimination, black male joblessness, and the inadequacy of human capital. B. William Julius Wilson sees racism and technological change as leading causes of black poverty. C. Barbara Ehrenreich and Frances Fox Piven call for a large government jobs program to wipe out poverty. D. None of these statements are false.
A measure of GDP in which quantities produced are valued at the prices of a fixed base year is called:
A. real GDP. B. current GDP. C. nominal GDP. D. base GDP.