Publishers practice price discrimination when they sell books at high prices to
A) early adopters. B) online book sellers.
C) large chain bookstores. D) local bookstores.
A
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According to the permanent income hypothesis, the impact of ________
A) a change in permanent income on consumption is greater than the impact resulting from a change in transitory income B) a change in transitory income on consumption is greater than the impact resulting from a change in permanent income C) a change in transitory income is felt primarily through changes in the total tax revenue paid to the federal government D) a change in permanent income on consumption is larger than the impact resulting from a change in future income
Keynesian economics developed in response to:
a. the Great Depression of the 1930s. b. the inflation following World War II. c. economic growth during the 1950s. d. the Vietnam War. e. the oil embargo in the 1970s.
An individual's demand curve for a good is ____ her marginal utility curve for the good
a. based on b. the mirror image around the vertical axis of c. twice as steep as d. half as steep as
Hudson has two job offers when he graduates from college. Hudson views the offers as identical, except for the salary terms. The first offer is at a fixed annual salary of $45,000. The second offer is at a fixed salary of $25,000 plus a possible bonus of $40,000. Hudson believes that he has a 50-50 chance of earning the bonus. If Hudson takes the offer that maximizes his expected utility and he is risk-loving, then
A. he will take the first offer. B. he will take the second offer. C. he is indifferent between the offers-both yield the same expected utility. D. Indeterminate from the given information-we cannot say what he will do.