Based on the answer above, the price for iPads _____________ and the quantity demanded for iPads ____________
a. Increase; increase
b. Increase; decrease
c. Decrease; increase
d. Decrease, decrease
a
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Why does the problem of the big tradeoff arise when the government engages in the process of redistributing income using taxes and transfers?
What will be an ideal response?
Which of the following antitrust laws broadened the list of illegal price discrimination practices and is often called the "Chain Store Act"?
a. The Clayton Act. b. The Federal Trade Commission Act. c. The Robinson-Patman Act. d. The Celler-Kefauver Act.
To an economist, the cost of a college education
A. includes the income that the student could have earned during the time spent in college. B. can be measured solely by the dollar cost of tuition, books, and other fees. C. includes only the cost of schooling, not the cost of housing and food. D. excludes financial aid in computation of the cost of schooling. E. All of these responses are correct.
When deciding on an appropriate course of action to counter a recessionary gap, which of the following do policy makers consider?
a. the slope of the short-run Phillips curve b. the costs of inflation and unemployment c. the efficiency of the economy's self-correcting mechanism d. All of the above are correct.