The practice of selling the same goods to different customers at different prices, but with the same marginal cost, is known as
a. price segregation.
b. price discrimination.
c. arbitrage.
d. monopoly pricing.
b
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When is policy convergence, also known as Downsian policy convergence, likely to occur among political parties?
What will be an ideal response?
Suppose that population grows by 2 percent annually. For the standard of living to rise, which of the following must occur?
a. Nominal GDP must grow by more than 2 percent. b. Real GDP must grow by more than 2 percent. c. Real GDP per capita must grow by more than 2 percent. d. Consumption spending must grow by more than 2 percent. e. Private investment spending must grow by more than 2 percent.
Economist Timothy Smeeding reported that income inequality
A. seems to increase whenever it is studied scientifically. B. was higher in the U.S. than in any of the European countries studied. C. was lower in the U.S. than in any of the European countries studied. D. was roughly the same in both the U.S. and in the European countries studied.
When considering the demand for money curve, the interest rate
A. varies negatively with the transactions demand for money. B. is independent of the opportunity cost of money. C. will have a positive relationship with the quantity of money demanded. D. is the price of holding money.