Fast Stop, a gasoline and grocery quick mart, charges $1.50 for a small bag of pretzels and $2 for two small bags of pretzels. This is an example of ________.
A) third-degree price discrimination
B) two-part pricing
C) second-degree price discrimination
D) an all-or-nothing offer
C) second-degree price discrimination
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According to the figure above, if there is no income tax, the equilibrium real wage rate is ________ and the equilibrium hours of labor are ________
A) $20; 200 billion B) $30; 250 billion C) $30; 200 billion D) $35; 200 billion E) The equilibrium is not shown.
The figure above shows the market for coffee. Coffee is a normal good. If consumers' incomes fall, the efficient quantity of coffee will ________ and the producer surplus will ________
A) increase; increase B) increase; decrease C) decrease; decrease D) decrease; increase
The declining cost of computer technology has made ________ a reality
A) brick and mortar banking B) commercial banking C) virtual banking D) investment banking
The U.S. federal government obtains most of its revenues through taxes from three sources. Which of the following is not one of those three main sources of federal revenue?
A) corporate income taxes B) social insurance taxes C) sales and excise taxes D) individual income taxes