If a fast food restaurant gives senior citizens a 10% discount on food every day, this is an example of price discrimination. If they only give the discount on Tuesdays, it is not price discrimination.
Answer the following statement true (T) or false (F)
False
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Which of the following decreases the demand for money?
A) an increase in the price level B) an increase in the quantity of money C) a decrease in real GDP D) a decrease in the cost of printing money
If inflation and unemployment is rising at the same time, then this is most likely the result of a shift
a. downward in the aggregate demand schedule. b. upward in the aggregate demand schedule. c. downward in the aggregate supply schedule. d. upward in the aggregate supply schedule. e. none of the above can explain this
The Interstate Commerce Commission (ICC)
(a) was the first permanent independent federal regulatory agency. (b) was established because, given the interstate nature of railroads, the regulation the public demanded from the states simply passed to the federal government. (c) initially lacked the power to set railroad rates, but its founding marked the beginning of a kind of federal government power capable of almost infinite expansion. (d) is best described by all of the above.
In a fractional reserve banking system
A. commercial banks are required to hold savings account in other banks as reserves against their deposits. B. commercial banks are required to hold a certain fraction of their deposits in reserves. C. all deposits must be held in reserves. D. commercial banks hold no deposits in reserve.