The biases in the CPI include the
A) old goods, unemployment, and inflation biases.
B) new goods, quality change, and substitution biases.
C) old goods, new goods, and quality change biases.
D) substitution, new goods, and old goods biases.
B
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At the current price of a good, Al's consumer surplus equals 15 and Ben's consumer surplus equals 15. By using two-part pricing, a monopolist could increase his profit by
A) 8. B) 16. C) 15. D) 30.
If a monopolist's marginal revenue exceeds its marginal cost at its current level of output, then to maximize its profit the monopolist should:
A. do nothing. B. increase output until marginal revenue equals marginal cost. C. increase output until price equals marginal cost. D. decrease output in order to increase the gap between marginal revenue and marginal cost.
The City Council of Happy Village is thinking about imposing rent controls. If they put rent controls in place, which constituency are they trying to please?
A) landlords B) all taxpayers C) existing tenants D) all voters
The first major international trade agreement following World War II was the North American Free Trade Agreement (NAFTA).
Answer the following statement true (T) or false (F)