For many years, AT&T required customers to rent telephones from AT&T in order to receive phone service. This is an example of:
a. price discrimination.
b. a tying contract.
c. an interlocking directorate.
d. exclusive dealing.
b
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Needs-tested spending is best described as
A) spending on programs that entitle qualified persons and businesses to receive benefits. B) spending on programs that have been tested in some manner. C) spending on programs that have proven over time to be sound investments. D) spending on programs that are considered necessities (needed) according to surveys of the public. E) not spending at all but a reference to the reliability of budget.
Expected wealth is a weighted average in which the weights are
A) average utilities. B) marginal utilities. C) total utilities. D) probabilities.
If firms are more pessimistic and believe that future profits will fall and remain weak for the next few years, then
A) investment spending will remain unaffected. B) investment spending will rise and then fall. C) investment spending will rise. D) investment spending will fall.
A decrease in labor productivity will increase marginal cost
Indicate whether the statement is true or false