A price discriminating monopolist charges lower prices to customers with
A) lower supply elasticities.
B) higher supply elasticities.
C) lower willingness to pay.
D) higher willingness to pay.
C
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If the tax multiplier is -1.5 and a $200 billion tax increase is implemented, what is the change in GDP, holding everything else constant? (Assume the price level stays constant.)
A) a $300 billion decrease in GDP B) a $30 billion increase in GDP C) a $300 billion increase in GDP D) a $133.33 billion increase in GDP E) a $133.33 billion decrease in GDP
Gas stations can price the products that they sell in their convenience store a little bit higher because
a. these products are usually complements to the gas sales and the demand for gas is inelastic b. these products are usually complements to the gas sales and the demand for gas is elastic c. these products are usually substitutes to the gas sales and the demand for gas is inelastic d. these products are usually substitutes to the gas sales and the demand for gas is elastic
If the Fed raised the money supply growth by more than expected then the unemployment rate would _____ in the short run. Explain the process by which the economy moves to the long run if the Fed maintains the higher money supply growth rate
Fill in the blank(s) with correct word
GDP is $7 trillion. If consumption is $3.5 trillion, investment is $1.4 trillion, and government purchases are $2.1 trillion, then:
A. imports exceed exports. B. exports exceed imports. C. exports are equal to imports. D. net exports cannot be determined from the available information.