A firm switching from a single price to a price discrimination scheme will ________ the price for the group of consumers with a relatively elastic demand and ________ the price for the group of consumers with a relatively inelastic demand.
A. decrease; increase
B. decrease; decrease
C. increase; increase
D. increase; decrease
Answer: A
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Which of the following is a balance of payments account?
i. current account ii. past account iii. capital and financial account A) i only B) ii only C) iii only D) i and iii E) i, ii, and iii
Among the causes of an increase in labor demand is ________
A) improved availability and affordability of day care for children B) an increase in enrollment at colleges C) an increase in the college wage premium D) an expansion of economic activity
Not counting _____ as unemployed understates unemployment
a. children b. retired persons c. students d. people who do not want to work e. discouraged workers
Which of the following attitudes will be held by a typical firm in a typical cartel?
a. If I alone cheat, I'm better off; if everyone cheats, I'm worse off. b. I can never do better for myself than by following agreed-upon cartel policies. c. If everyone cheats, I'm better off and so is everyone else in the cartel. d. If I suspect others are planning to cheat, I'll do best for myself by deciding not to cheat.