The last year that our current account deficit was close to 0 was __________.
Fill in the blank(s) with the appropriate word(s).
1991
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Suppose Dublin Electronics charges regular customers $90 for a Blu-ray player but allows senior citizens to purchase the same item for $75. Is this likely to be a successful price discriminating strategy?
A) No, because there are many different brands of Blu-ray players and consumers will shop around. B) Yes, because senior citizens are likely to have a more elastic demand and therefore will be willing to pay a lower price compared to regular customers. C) Yes, firms price discriminate to maximize profits. D) No, price discrimination will not be effective because the store cannot prevent senior citizens from buying large quantities of Blu-ray players and reselling them for a profit.
What is the price elasticity of demand for a vertical demand curve?
a. Inelastic, but not perfectly inelastic b. Perfectly elastic c. Unitary elastic d. Perfectly inelastic e. Elastic, but not perfectly elastic
Which statement about fertility and economic growth is true?
a. Higher fertility rates correspond to greater economic growth. b. Fertility rates tend to drop as countries become richer. c. Family size tends to increase as nations become wealthier. d. There is no connection between economic growth and fertility rates.
If the nominal interest rate is 6% and the inflation rate is 2%, then the real interest rate is
A) 8%. B) 4%. C) 3%. D) 2%. E) 1%.