A tennis pro charges $15 per hour for tennis lessons for children and $30 per hour for tennis lessons for adults. The tennis pro is practicing
A) first-degree price discrimination.
B) second-degree price discrimination.
C) third-degree price discrimination.
D) fourth-degree price discrimination.
E) fifth-degree price discrimination.
C
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Adam Smith believed that the individual pursuit of self-interest:
A. should usually be discouraged. B. always leads to an efficient outcome. C. is impossible in a perfectly competitive market. D. often promotes the broader interests of society.
In the balance of payments accounts, changes in U.S. official reserves are recorded in the
A) international currency account. B) current account. C) international reserves account. D) official settlements account. E) capital and financial account.
The share of income received by different groups is called ________
Fill in the blank(s) with correct word
The optimal collective decision rule is found where _____
a. decision-making costs are minimized b. the sum of the external and decision-making costs are minimized c. marginal political costs and marginal political benefits are equalized d. external costs are minimized