The point at which quantity supplied and quantity demanded are the same:
a. rationing
b. price floor
c. excess demand
d. surplus
e. equilibrium
Ans: e. equilibrium
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Second-degree price discrimination generally takes the form of
a. special prices for students and seniors. b. membership clubs. c. quantity discounts. d. "extras" like free delivery and free customer service.
Holding all else constant, an increase in the preferences of Americans for Mexican goods will ________ the supply of dollars in the foreign exchange market and ________ the equilibrium Mexican peso/U.S. dollar exchange rate.
A. decrease; decrease B. decrease; increase C. increase; increase D. increase; decrease
Everything else held constant, in the market for reserves, decreases in the interest rate paid on excess reserves affect the federal funds rate
A) when the funds rate is below the interest rate paid on excess reserves. B) when the funds rate equals the interest rate paid on excess reserves. C) when the funds rate is below the discount rate. D) when the funds rate equals the discount rate.
Which is NOT one of the potential benefits of labor unions?
A) Unionism raises social efficiency. B) Unions appear to reduce wage inequality. C) Unions may reduce a company's profits. D) Unions may have contributed to safer working conditions.