The 2 steps required to formulate fiscal policy
What will be an ideal response?
1) select the fiscal policy tools needed to induce the desired shift
2) specify the amount of the desired AD shift
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Promotional pricing would best be categorized as a form of:
A) first-degree price discrimination. B) second-degree price discrimination. C) third-degree price discrimination. D) no price discrimination.
Which of the following items are NOT counted in U.S. GDP?
A) your purchase of a new Ford Mustang B) your purchase of new tires for your old car C) GM's purchase of tires for new cars D) a foreign consumer's purchase of a new Ford Mustang
To say that "there is a scarcity of gold" means that:
a. gold prices will plummet. b. there is not enough gold to satisfy people's demand. c. there are a very few substitutes for gold. d. gold is relatively less expensive than other metals. e. the demand for gold is changing.
If duopolists colluded but then stopped colluding,
a. price and quantity would rise. b. price would rise and quantity would fall. c. price would fall and quantity would rise d. price and quantity would fall.