Discounted tickets for children into events is what type of price discrimination?
A. First-degree price discrimination.
B. Second-degree price discrimination.
C. Third-degree price discrimination.
D. It is not price discrimination.
Answer: C
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Refer to the table above. Which of the following is likely to be true in this case?
A) Laborland's terms of trade will improve. B) Laborland's economy will go into a recession. C) There will be a surplus in Laborland's financial account. D) There will be a deficit in laborland's financial account.
The Fed uses a "core" price index, one that excludes food and energy prices to measure inflation. It does so because
A) food and energy prices have wide swings that are not related to the causes of general inflation. B) food and energy have inelastic demand curves and consumers will buy them regardless of their price. C) food and energy prices do not change all that much during the short run, so are irrelevant to the calculation of inflation. D) it wants to avoid the blame for high gasoline prices causing inflation.
There are two types of markets in which firms face some competition yet are still able to have some control over the prices of their products. Those two types of market are
a. monopolistic competition and oligopoly. b. duopoly and triopoly. c. perfect competition and monopolistic competition. d. duopoly and imperfect competition.
Most markets, if left alone, will tend toward
A. elasticity. B. market price. C. zero price. D. equilibrium price.