One can determine producers' surplus if the minimum selling price and the _____________ are known
A) price received
B) price paid
C) tax paid
D) tax received
E) a and c
A
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The CPI was 170 last year and is 190 this year. What is the inflation rate between these two years?
A) 20 percent B) 11.8 percent C) 18 percent D) 15.0 percent E) 10.5 percent
A monopolistic producer supplying raw materials to two industries one with a lower price elasticity of demand and the other with a high price elasticity of demand, practices _____ to prevent its low price elastic consumers (who have more elastic demands) from reselling its products to high price consumers (who have less elastic demands)
a. vertical integration b. price discrimination c. double marginalization d. price control
The natural rate hypothesis states that the economy will self-correct back to the natural rate of unemployment, so that a move along a short run Phillips curve will not be permanent
a. True b. False Indicate whether the statement is true or false
The economy is considered to be at full employment when
a. the actual rate of unemployment is less than the natural rate. b. the leading economic indicators are unchanged for two consecutive quarters. c. structural unemployment is zero. d. frictional plus structural unemployment is less than the natural rate. e. the rate of cyclical unemployment is zero.