Which of the following is not an example of price discrimination by a firm?
a. children's meals at a restaurant
b. a natural gas company charging customers a higher rate in the winter than in the summer
c. a senior citizens' discount
d. coupons in the Sunday newspaper
b
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Economists define the change in national income that is generated by a change in investment as
a. the marginal propensity to invest b. the investment multiplier c. the saving multiplier d. the income multiplier e. autonomous investment
Measuring unemployment is the job of the
a. Congressional Budget Office. b. Department of Commerce. c. Council of Economic Advisers. d. Bureau of Labor Statistics.
Which of the following statements BEST describes a limitation of the Big Mac Index?
A) Profit margins vary by the strength of competition, which affects relative prices. B) The theory of PPP incorrectly assumes that there are barriers to trade. C) The Big Mac represents all possible commodities and services. D) Taxes have no effect on Big Mac prices.
When a monopoly is inevitable, the government often:
A. forces it to break into smaller firms. B. sets a minimum price for the monopolist. C. sets a maximum price for the monopolist. D. None of these; monopoly is never inevitable.