Which of the following would be the most difficult consumer characteristic for firms to use in price discrimination?
a. gender
b. age
c. height
d. educational attainment
e. weight
D
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Why is the demand for loanable funds downward sloping?
A) People save less when the interest rate is low. B) More people borrow money when interest rates are low than when they are high. C) Fewer investment projects have returns that can beat higher interest rates, so people are more willing to invest at higher interest rates. D) People save more when the interest rate is high.
Unemployment, at the aggregate level.,
A) is avoidable. B) is part of a well-functioning economy. C) is always a sign of market failure. D) would not happen with good policy.
Which of the following methods can be used to sustain a cartel?
A) removing barriers to entry B) trade groups C) acts of self-interest D) the use of binding contracts
Wally owns a dog whose barking annoys Wally's neighbor, Corrine. Suppose that the benefit of owning the dog is worth $700 to Wally and that Corrine bears a cost of $500 from the barking. Assuming Wally has the legal right to keep the dog, a possible private solution to this problem is that
a. Wally pays Corrine $600 for her inconvenience. b. Corrine pays Wally $400 to give the dog to his parents who live on an isolated farm. c. Corrine pays Wally $550 to give the dog to his parents who live on an isolated farm. d. The current situation is efficient.