When grocery stores offer discount coupons on Sunday papers, it is trying to
a. Price discriminate
b. Undercut its competition
c. Reward the frequent readers
d. Provide a social service
a
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What is a market economy?
What will be an ideal response?
Recall the Application. If the Federal Reserve was making a decision on changing interest rates
A) the Board of Governors would typically make an equally good decision as would the chairman acting on his own. B) the Board of Governors would typically make a better decision than the chairman acting on his own. C) the chairman, acting alone, would typically make a better decision than the Board of Governors. D) neither the Board of Governors nor the chairman, acting alone, would tend to make accurate predictions.
Which of the following generates allocative efficiency in a market economy?
A) United Nations rules for competition B) equity C) voluntary exchange between buyers and sellers D) national government intervention
Which of the following objectives is NOT a basis for international trade?
A. To gain from economies of scale. B. To obtain goods that would be unavailable otherwise. C. To obtain goods at lower prices than would be possible if they were produced domestically. D. To increase Treasury reserves of gold bullion.