When a monopoly price discriminates, it charges the highest price to the group of buyers with the least elastic demand
a. True
b. False
Indicate whether the statement is true or false
True
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If the price of goods X and Y change proportionally, then which of the following is true?
a. The budget line will not change because the prices have changed proportionally. b. It is not clear what happens to the budget line because too many factors have changed. c. It will appear as if the budget line has shifted even though income has not changed. d. It will appear as if the budget line pivoted and the slope will change because prices changed.
Analysis that aims at determining only the economic consequences of a particular policy is called ________ analysis.
A. fiscal B. normative C. monetary D. positive
Your friend recently graduated from college and is actively looking for employment. The economy has completely recovered from the last recession and your friend is taking her time, looking for the "perfect" job. In the meantime, the unemployment she is experiencing is categorized as
A) cyclical. B) structural. C) seasonal. D) frictional.
Compared to the distribution of money income, the distribution of wealth is
A. a little more equal. B. much more equal. C. much less equal. D. about the same.