Which of the following is NOT a necessary condition for a firm to price discriminate?
A. The firm must be a price-taker.
B. Resale of the product must be preventable.
C. Buyers in different markets must have different elasticities of demand.
D. The firm must be able to separate markets.
Answer: A
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Income and revenue from taxes have a specific relationship during recessions. What is it?
A) incomes fall, tax revenue increases B) incomes rise, tax revenue decreases C) incomes fall, tax revenue decreases D) incomes rise, tax revenue increases
In 2015, the U.S. experienced a deficit in its balance of trade with
A. Africa. B. Europe. C. OPEC. D. all of the answers are correct.
Give an example of how money is often handled when interest rates are high.
What will be an ideal response?
Suppose there is a simultaneous increase in demand and increase in supply. Given this information, we know with certainty that
A. the equilibrium price will increase. B. the equilibrium quantity will increase. C. the equilibrium price will increase, and the equilibrium quantity will increase. D. both the equilibrium price and the equilibrium quantity will increase.