Which of the following is an accurate statement about markets?
a. It doesn’t matter what they look like, but rather what they do.
b. There is a limited variety of them, and they all do about the same thing.
c. They facilitate trade for large companies, but tend to ignore small ones.
d. They focus more on the exchange of goods than the exchange of services.
a. It doesn’t matter what they look like, but rather what they do.
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Which of the following statements is true about optimal two-part tariff and perfect price discrimination for a given demand curve?
A) The total revenue received under an optimal two-part tariff could be greater than, less than, or equal to that received under perfect price discrimination, depending on the fixed-fee portion of the two-part tariff. B) The total revenue received under the two pricing schedules is the same. C) The total revenue received under an optimal two-part tariff is less than that received under perfect price discrimination. D) The total revenue received under an optimal two-part tariff exceeds that received under perfect price discrimination.
Choice architecture can:
A. alter actual decisions and thus the ultimate outcomes. B. make it easier for people to make choices that will make them happier in the long run. C. help people make better choices without eliminating free choice. D. All of these statements are true.
The French production possibilities curve shifts to the right when there is
a. a decrease in the French capital stock b. a decrease in the French labor supply c. high unemployment in France during the previous period d. only consumer goods production in France during the previous period e. technological innovation in the production of French goods
Businesses demand funds because
A) they prefer earlier consumption to later consumption. B) they have deficits to cover. C) they prefer to purchase capital goods in the current year. D) they make investments that they believe will increase productivity and profitability.