Which of the following is an example where price discrimination occurs?
a. quantity discounts
b. Disney World
c. theatres in New York City
d. all of the above
d
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Why do convex indifference curve have a negative slope?
A) because to keep utility constant, a consumer must get more of one good if she is to give up some of the other B) because scarcity implies that it is not possible to consume more of one good without giving up some of the other C) because consumers take market prices as given D) because consumers face a budget constraint
What are some reasons that an "emerging market" country may choose a fixed exchange rate regime?
What will be an ideal response?
When the Fed practices contractionary monetary policy, the interest rate goes:
A. up, and the exchange rate will appreciate as a result. B. up, and the exchange rate will depreciate as a result. C. down, and the exchange rate will appreciate as a result. D. down, and the exchange rate will depreciate as a result.
Answer the following statements true (T) or false (F)
1. The Keynesian analysis assumes that ample resources will be available to increase production if planned investment increases when the economy is at less than full employment. 2. The Keynesian analysis differs from classical analysis in its short-run analysis of the economy. 3. The monetarist school is primarily concerned with unemployment and recessions. 4. The monetarist school is more similar to the Keynesian school than the classical school. 5. The time lags lead monetarists to contend that monetary policy is counterproductive. 6. The new classical school holds that rational expectations tend to defeat the goals of monetary policy. 7. The new classical school contends that government fiscal policy is better than monetary policy in controlling inflation.