Which of the following ia a belief of classical theory?
a. Long-run full employment.
b. Inflexible wages.
c. Inflexible prices.
d. All of these.
a
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A price-discriminating monopoly charges
A) the same price to every buyer for the same product. B) a different price to different types of buyers for the same product, even though there are no differences in costs. C) a different price to different buyers, because the costs are different. D) different prices to buyers for different products. E) each customer a price that equals the marginal cost of serving that customer.
Which of the following helps in preventing firms in the U.S. from forming collusive agreements?
A) The low demand faced by colluding firms B) The antitrust policy of the government C) The high rate of corporate income taxes D) The low profit earned by firms after colluding
In the above figure, Mark's monthly budget line for movies and plays changed, as shown by the arrow. Responding to this change, Mark probably will see
A) fewer movies and fewer plays. B) fewer movies and more plays. C) more movies and fewer plays. D) more movies and more plays.
If the exchange rate changes from 1 euro per U.S. dollar to 1.2 euros per U.S. dollar, the Euro has
a. appreciated, since its value has increased b. appreciated, since the price of U.S. dollars has increased c. appreciated, making U.S. goods cheaper in Euros d. depreciated, since its value has declined e. depreciated, since its value has increased