Price discrimination is:
A. the practice of charging customers different prices for the same good.
B. the process of customers choosing items based on price.
C. the practice of charging customers the same price for a variety of similar goods.
D. choosing which prices to charge for certain items.
Answer: A
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If the United States imports goods and services for a total of $45 billion, exports goods and services for a total of $40 billion, records $4 billion as net interest and zero as net transfers, then the U.S. current account balance is
A) $1 billion. B) -$1 billion. C) $89 billion. D) zero. E) $81 billion.
Which of the following is the best example of the "command" process?
A) United Airlines buys Northwest Airlines. B) Striking auto workers force General Motors to shut down its factories. C) Banks raise their fees on late payments by credit card holders. D) The FCC requires local telephone companies to provide access to their local networks before being able to offer long distance service.
Suppose a local union has a contract that calls for the nominal wage to increase by 5 percent plus 100 percent of any increase in the CPI. If the CPI increases by 4% and there is a 1% positive bias in the inflation rate, by how much would nominal wages unnecessarily increase?
a. 9 percent b. 1 percent c. 5 percent d. 3 percent e. 4 percent
In response to the sharp decline in stock prices in October 1987, the Federal Reserve
a. increased the money supply and increased interest rates. b. increased the money supply and decreased interest rates. c. decreased the money supply and increased interest rates. d. decreased the money supply and decreased interest rates.