If a firm is price differentiating, then it is
A. charging different prices based on quality.
B. producing a homogeneous product.
C. charging different prices based on advertising costs.
D. charging different prices to different consumers based on differences in marginal costs.
Answer: D
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Direct controls imposing identical emission limits on all polluters are
A) efficient if emissions can be accurately monitored, which is seldom possible. B) equitable because all polluters bear equal costs. C) likely to require a great deal of high-cost pollution reduction. D) more efficient and equitable than a system of fines because fines matter less to large than to small polluters.
As a result of an expansionary monetary policy:
a. both aggregate expenditure and aggregate demand increase b. both aggregate expenditure and aggregate demand decrease. c. aggregate expenditure increases and aggregate demand decreases. d. aggregate expenditure decreases and aggregate demand increases. e. aggregate expenditure remains unchanged; aggregate demand increases.
Mitsubishi Corporation of America builds a car in Normal, Illinois, and ships it to Japan for sale. In which country's GDP is this production included?
a. Japan b. both Japan and the United States c. in Japan as retail value and the United States as wholesale value d. half the value in Japan and half in the United States e. the United States
The difference between a supply schedule and a supply curve is that a supply schedule
a. incorporates demand and a supply curve does not. b. incorporates profit and a supply curve does not. c. can shift, but a supply curve cannot shift. d. is a table, and a supply curve is drawn on a graph.