Fixed exchange rates serve as a constraint on inflationary government policies
a. True
b. False
Indicate whether the statement is true or false
True
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Refer to Figure 21.2. If area A = 2,000, area B = 400, and area C = 2,600, what is the Gini coefficient for Ruratania (rounded to two decimal places)?
A) 0.08 B) 0.15 C) 0.48 D) 0.92
A firm that decides to make a price cut assumes that marginal profit is negative.
Answer the following statement true (T) or false (F)
Why doesn't a firm price discriminate based on income levels?
A) It would be nearly impossible to conveniently confirm any individual's income level. B) It is illegal to ask someone their income levels. C) It is immoral to price discriminate based on income levels. D) They do: It is common practice for firms to price discriminate based on income.
Assuming that the demand and supply of a good have moved in opposite directions, but by the same amount, the new equilibrium would represent: a. an increase in price and an increase in quantity exchanged
b. no change in price and an increase in quantity exchanged. c. a decrease in price and a decrease in quantity exchanged. d. an indeterminate change in price, but no change in quantity exchanged.