A perfectly price discriminating monopolist's profit is ________ the profit of a monopolist who charges the same price to all of its customers.
A. the same as
B. higher than
C. sometimes less than and sometimes greater than.
D. less than
Answer: B
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Consider two countries: A and B. In country A, the annual growth rate of GDP per capita is 2%, while in country B the annual growth rate of GDP per capita is 6%. At present, country B's GDP per capita is higher than country A's GDP per capita
Which of the following statements will then be true? A) The gap between country A's GDP per capita and country B's GDP per capita will decrease for the first few years and then will increase later. B) The gap between country A's GDP per capita and country B's per capita will decrease over time. C) The gap between country A's GDP per capita and country B's per capita will widen over time. D) The gap between country A's GDP per capita and country B's per capita will remain the same.
If insurance companies are able to gather more and better information on their customers, this will
A) help reduce the problem of adverse selection but do nothing to help with the problem of moral hazard. B) help reduce the problem of moral hazard but do nothing to help with the problem of adverse selection. C) help reduce the problems of adverse selection and moral hazard. D) do nothing to help with the problems of moral hazard and adverse selection.
The legal reserve requirement that banks must adhere to is set by
a. Congress b. the FDIC c. the Treasury Department d. the banking system e. the Federal Reserve
Money supply M1 does not include the currency held by:
A. Households in their wallets or purses B. Business firms C. Commercial banks D. State and local governments